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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 charts below rank the 10Y real yields among the most liquid EM economies, using both headline and core CPI inflation.
- At the bottom of the league, we find the CEE regions, currently offering the lowest real yields in the EM world; for instance, Poland currently offers a 10Y real yield of -0.9% using core inflation and -2.2% using headline inflation, respectively.
- At the top, we find South Africa, Brazil and Indonesia as countries offering the highest 10Y real yields. South Africa currently offers 10Y real yields of 6.9% (core) and 6.6% (headline), respectively. Brazil also offers a real yield of 6.5% (core), but the uncertainty over currency volatility remains elevated.
- The economic outlook for 2021 remains sluggish in most of the EM economies amid slow vaccination campaigns and elevated travel restrictions, which could heavily impact the tourism and services sector for the rest of the year.
* for China, we use PPI inflation instead of CPI as the correlation between PPI and China 10Y has been stronger, especially since 2013.
Source: Bloomberg/MNI
Source: Bloomberg/MNI
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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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