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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
- With China PPI soaring to 6.8% in April (above 6.5% exp.), China currently offers the lowest 10Y real yield among the EM market (we use PPI instead of CPI for China as it shows stronger relationship with 10Y yield over time).
- This morning, we saw that both Czech and Hungary CPI rose more than expected in April to 3.1% and 5.1% YoY, respectively. After China, the CEE region offers the lowest 10Y real yields when we adjust by headline inflation, Poland at -2.5%, followed by Hungary at -2.3% and then Czech R. At -1.3%.
- South Africa still remains at the top of the League, currently offering a 10Y real yield of 5.7%.
- The chart below ranks the 10Y real yields among the most liquid EM economies, adjusted by headline CPI.
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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