(Bloomberg) -- Emerging market bonds and currencies
slumped as investors turned more risk averse in the wake of rising
global interest rates and inflation.
New Zealand and South Africa raised interest rates
yesterday, a day after the European Central Bank lifted its
benchmark rate to a six-year high. Fed Bank of Richmond President
said growth in the world's largest economy will rebound, reducing
the chances of a rate cut. An emerging market bond index compiled
by JPMorgan Chase & Co. yesterday dropped the most since October
2005 as demand waned for riskier assets.
Read more at Bloomberg Bonds News
slumped as investors turned more risk averse in the wake of rising
global interest rates and inflation.
New Zealand and South Africa raised interest rates
yesterday, a day after the European Central Bank lifted its
benchmark rate to a six-year high. Fed Bank of Richmond President
said growth in the world's largest economy will rebound, reducing
the chances of a rate cut. An emerging market bond index compiled
by JPMorgan Chase & Co. yesterday dropped the most since October
2005 as demand waned for riskier assets.
Read more at Bloomberg Bonds News
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