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Free Access10Y Real Yields: China and CEE Still At The Bottom of the League
- As inflation continued to surprise positively in September in China, with PPI inflation standing at its highest level since November 1995, the country currently offers the lowest 10Y real yield (adjusted by PPI inflation) among the EM world at -7.6%.
- The CEE region also stands at the bottom of the League despite the sharp increase in LT bond yields amid rising inflationary pressures.
- Poland offers the second lowest 10Y real yield at -3.2%, followed by Czech Republic (-2.5%) and Hungary (-1.70%).
- South Africa still remains at the top of the League with a 10Y real yield of +4.9%. Elevated real yields combined with rising current account surpluses have been strong drivers of ZAR in the past year.
- The chart below ranks the 10Y real yields among the most liquid EM economies, adjusted by CPI inflation.
Source: Bloomberg/MNI
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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.