If the EM asset class is in trouble no-one has told investors

Once again the CEEMEA bond market has bounced back from yet another emerging markets slump. Borrowers from both ends of the credit spectrum are pricing successful bonds just days after fears that the fundamental bid for emerging market risk was set to crumble. The fact that these dire predictions have once again proved misplaced should serve as a rejoinder to those who fail to appreciate emerging market investors’ commitment to the asset class, which is now much larger and less optional to buyers than when the collapse of Lehman Brothers shut the market in 2008.