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Old wives’ tales
Weekly investor research
24 June 2019
The strong performance of bonds in Emerging Markets during the now completed Fed hiking cycle and amidst elevated levels of global risk aversion shows that something else entirely is driving performance in EM. The alleged vulnerability of EM fixed income markets to Fed hikes and global risk aversion is an old wives’ tale. The Weekly also discusses index inclusion for Chinese government bonds, reforms in South Africa and a local election in Turkey.