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Opinion
Making a bet on Emerging Debt

Geoff Cutmore Geoff Cutmore

Emerging market debt has delivered steller returns since 2008, and while past performance is no guarantee of future returns, it sure makes for a better story than the stodgy equity markets we’ve seen in the West in 2010.

 

The spread over US Treasuries (what you are paid for risk) has shrunk from around 900 basis points to around 200 basis points in dollar denominated Emerging bonds. Funds holding this debt have returned anywhere between 20 - 50% over this period ( bond prices rise as the yield falls).

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PPI is dead. Hurrah!

Guy Anker Guy Anker

Well, at least policies sold by banks have become virtually extinct after Lloyds Banking Group and Barclays stopped selling cover this summer.

 

Yet after lenders have stung the public with tale-after-tale of mis-selling and deceit, one can’t help wonder if they will still have the last laugh despite their routing by the authorities.

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