Emerging Market Debt: 2011 Outlook


January 2011. Emerging market countries enter 2011 in a stronger economic and fiscal position than they did in 2010. Since the financial crisis, emerging markets have driven global economic growth, compared to the sluggish growth experienced by developed markets. EM economies have expanded at above trend growth levels through 2010, allowing most EM central banks to start to normalise policy rates, stemming the tide of excess liquidity. We expect this dichotomy in growth between developed and emerging markets to persist throughout 2011. However EM growth is likely to be slower compared to 2010.   Inflows into Emerging Markets Debt (EMD) should remain strong in 2011, driven by the search for higher yielding opportunities, investor rebalancing of strategic allocations and the wider recognition of the strength of EM economies compared to developed markets. (Leer aquí)

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