Mongolia leads Asia bonds on IMF rescue plan, copper rebound
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Singapore
WITH a shrinking economy, ballooning budget deficit and debt downgrades, Mongolia was not an obvious place to put your money last year. But a rebound in copper and the prospect of an International Monetary Fund (IMF) rescue package has turned the country's US dollar bonds into an investment winner.
The notes returned 1.5 per cent in the three months till last Thursday, the most among nine Asian markets, according to JPMorgan Chase & Co indexes. The price of copper, which accounts for around a third of Mongolian exports, is up 20 per cent over the period amid supply risks and signs that US President Donald Trump will ramp up infrastructure spending.
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