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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