Coronavirus panic gives EM pause, but prolonged shut down unlikely

By Ross Lancaster
24 Feb 2020

Emerging market bond bankers were not joining the panic on Monday, as equity investors and traders jettisoned their sanguine attitude to the Covid-19 coronavirus outbreak, driving stock indices lower.

European and UK equity markets were down by more than 3% by Monday afternoon, and primary bond issuance was unsurprisingly quiet.

But EM has been surprisingly resilient this year. The assassination of Iranian military general Qasem Soleimani in January and the initial breakout of Covid-19 were both events ...

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