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Investor relevant news from Russia, China and Malaysia

Weekly investor research

28 October 2013

Russia is preparing to introduce Euroclearable local currency corporate bonds in early 2014. This is an important milestone for Emerging Markets (EM) fixed income. Local currency corporate bonds are not recognised as an asset class, and do not even have an index. Yet, this asset class is among the fastest developing segments in Emerging Markets fixed income. China delivered more positive data and its currency appreciated to the strongest level for 20 years versus the US dollar. Malaysia’s budget was exactly what the doctor prescribed; business friendly and prudent. Meanwhile, US data continued to deteriorate and the Dollar and US treasury bonds continue to destabilise markets in the rest of the world.

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