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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
- Rising inflationary pressures in Poland have led to a significant outflows of Poland gvt bond since the start of the year (FX external bonds). As a reminder, the CEE region currently offers the lowest 10Y real yields among the EM world with Poland at the bottom of the 'League' with -2.5%.
- On the other hand, momentum on the ZAR, CLP and MYR have led to significant inflows in gvt bonds (1.5 to 2% of the country's GDP).
- We will see if flows to Malaysia gvt bonds will continue with the recent surge in inflation; CPI inflation rose from 0.1% to 4.7% between February and April this year, implying that Malaysia currently offers a negative 10Y yield of -1.5%.
- This chart (source: IIF) shows the flows to EM government bonds since the start of the year.
Source: IIF
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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