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Go local on emerging debt: Morgan Stanley

Unit expects domestic sovereign bonds to outperform dollar-denominated bonds

Morgan Stanley's outlook on the rupiah is more positive than for India's rupee as Indonesian authorities, while rebuilding their foreign-exchange reserves, have allowed "a more sizable appreciation" as foreign funds return. The rupiah advanced 3.2 per cent this year, the most in Asia.


SIX months after picking winners in Indonesia's rupiah and Malaysia's ringgit, Morgan Stanley's asset management arm is becoming bullish on the local-currency debt of developing nations.

Morgan Stanley Investment Management expects domestic sovereign bonds to outperform

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