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Asian fixed income: local currency bonds’ strong comeback
A sell-off in emerging markets at the end of last year has reversed – and long-term economic factors are driving the change, according to Matthew Arnold of State Street Global Advisors.
Investors are returning to emerging market bonds, including Asian bonds, after a sell-off towards the tail end of 2016 following the election of Donald Trump as US president. Asia’s economic resilience, relatively better credit outlook and potential foreign exchange gains are among the top reasons why investors are flocking to Asian local currency bonds.
Demonstrating this trend, the ABF Pan Asia Bond Index Fund (PAIF), Asia’s first exchange-traded bond fund, has returned 3.1% yea…
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