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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
EMERGING MARKETS
- The chart below ranks the 10Y real yields among the most liquid EM economies, adjusted by CPI inflation.
- This morning, the positive surprise in Polish CPI inflation (+6.8% YoY, highest level in 20years) sent the 10Y real yield to nearly -4%.
- Poland currently offers the second lowest yield among the EM world after China (PPI-adj. real yield of -7.7%).
- CEE region still remains at the bottom of the 'League' despite the rally in LT bond yields in the past two months as inflation continues to surprise positively. Inflationary pressures are expected to remain elevated until at least the end of this year.
- South Africa remains at the top of the League, currently offering a 10Y real yield of 5.2%, which has strongly supported the ZAR in the past year (in addition to the increase in Current Account surpluses).
Source: Bloomberg/MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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