Pimco sees 'handsome' rewards in emerging market local bonds
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Sao Paulo
EMERGING market local bonds are back in the spotlight, with Pimco seeing "handsome" rewards and Ashmore calling them the best bet in the debt world.
Pacific Investment Management Co said on Monday the local government debt market will become much larger, deeper and more liquid as countries including China and Egypt are likely added to benchmark indexes. This will increase the attractiveness of assets that are already being boosted by a slumping US dollar, one of the reasons Ashmore, BNP Paribas Asset Management and Schroders plc are positive on developing-nation debt.
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