EDITORIAL: Testing times

Nov 1, 2013

Amid the chaos in bond markets earlier this year, a funny thing happened to local currency sovereign bonds: cash flowed in.

Between May and September, while the headlines proclaimed the demise of the emerging markets, and as riots exploded on the streets of São Paulo, international investors put $17 billion into Brazilian government bonds denominated in reais.

The effect was less stark in Mexico, but no less counterintuitive. As analysts downgraded their growth forecasts for the country, foreign investors bought $2 billion worth of peso denominated...

To continue reading please take a free trial, subscribe or login below.

Already have an account?


Subscribe now for unlimited access to all current and archive news, data and market analysis. 


Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial

Upcoming Events


Where will capital markets be busiest in 2017?


Popular Searches