Thursday, 8 January 2009

ING Says Emerging Market Debt Funds ''Moved Into the Black´´

Coincidence this time shouldn't be called a coincidence.

ING strategist David Spegel said in a report distributed yesterday that, for the week ended Jan. 7, emerging market debt funds saw inflows of $13 million, the first inflows since the week ended Aug. 6!!!! Hard currency funds received inflows equivalent to 0.7 percent of assets under management, while local currency fund experienced outflows of 0.14 percent AUM, according to Spegel. The following week Brazil, Colombia, Turkey, the Philippines ... were among countries that sold a combined $5 billion of new debt. The recovery in risk appetite is turning real. We'll see whether the new trend maintains beyond the Obama inauguration next week.

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