After rally, emerging market bonds no longer cheap
Some say party can go on, citing stronger fundamentals, receding China fears and strong demand
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Singapore
AS emerging markets (EM) bonds hang on to their remarkable rally in 2016, one thing is clear: They are no longer cheap.
Optimists say a domestic recovery within EM economies is taking hold. Fears are also receding over external threats to the EM story, such as a China crash or a brisk Fed rate hike.
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