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Risk Premia Falling Across CEMEA as Sentiment Picks up on the Margins

EMERGING MARKETS
  • High beta EM FX has firmed today vs the USD in what looks like a melt lower following last week's bout of global risk-off
  • 5Y CDS spreads across CEMEA are narrowing with Russia -1.4bp, SA -2.5bp & Turkey -3.9bp
  • 1W implied vols trade mixed however, with $ZAR & $RUB vols lower, while $try vols remain flat to a fraction higher on the day
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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