Morgan Stanley has slapped a buy call on Emerging Markets sovereign debt. The U.S. Investment Bank says EM sovereign credit spreads Stabilized at cheap levels. Fund outflows have stopped and issuing has resumed. High-yield countries with low credit ratings were the only place to go for risk-taking investors.
Short EM High Yielders local currency CDS? Dicuss…
Don’t know what High yielding currencies are? no problem
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