Emerging market assets display 'incredible' resilience despite macro threats

By Lewis McLellan, Mariam Meskin, Oliver West
17 Jul 2019

Global growth is flagging and two of the core markets in EM are facing sanctions from the US, but bond prices have been buoyed by a tide of inflows and loose monetary policy.

“It’s pretty incredible,” said a head of CEEMEA debt capital markets. “Turkey in particular is proving incredibly resilient. Given a Fitch downgrade, [US] sanctions over the S-400 missiles [that Turkey has bought from Russia] and the firing of the central bank governor, we’d expect to see that reflected ...

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