Emerging market debt is being hit by global risk aversion and political distress in high beta areas...
Emerging market debt is being hit by global risk aversion and political distress in high beta areas such as Brazil, Turkey and Venezuela, says Guido Barthels, global head of debt research at Dresdner Kleinwort Wasserstein. Barthels believes the main driver of emerging market debt at present is the situation in Brazil rather than global macro or market themes. He says: 'Despite being hit by a combination of risk aversion and country-specific fears, emerging market debt has held up well compared to other credit classes across the rating spectrum. Indeed, it looks as though high-grade em...
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