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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
- Following the large increase in inflation yesterday, with CPI surging to 36.1% in December (vs. 27.4% exp.), Turkey now offers the lowest 10Y real yield among the EM world (-13.1%).
- TRY experienced tremendous volatility in December as dovish CBRT and political uncertainty keeps weighing on the Lira. USDTRY reached a record high of 18.36 on December 20 before retracing sharply lower(to a local low of 10.25) following President Erdogan’s emergency plan to curb the Lira’s unprecedented depreciation.
- China (PPI-adjusted) and Poland are the other two countries sitting at the bottom of the League, currently offering a 10Y real yield of -10.1% and -4%, respectively.
- At the top, Indonesia is now the country that offers the highest 10Y real yield , with a 10Y real yield of 4.5%, shortly followed by South Africa ( 4.3%).
- The chart below ranks the 10Y real yields among the most liquid EM economies, adjusted by CPI inflation.
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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