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EM Fixed Income universe grows bigger and stronger
Weekly investor research
14 July 2014
The Emerging Markets (EM) fixed income universe increased by 3% in 2013 to reach USD 14.5trn. This compares to
USD 103trn for developed economies. EM is now more than 50% of global GDP, so EM’s credit fundamentals improved
further relative to developed economies last year. This means that investors have a safer alternative to developed market fixed
income as the world slowly heads towards global monetary policy normalisation. Seen in this light it is unsurprising that
developed market central banks continue to err on the side of dovishness.