Investors are viewing emerging market debt in a new light as concerns increase about the creditworthiness of sovereign debt in the developed world, particularly in the eurozone.
Net inflows into emerging market debt totalled $30.6bn (£20.7bn, €25bn) from the beginning of the year to late May compared with $33bn for the whole of 2009, according to JPMorgan.
“There is recognition that emerging market balance sheets are strong and the debt to GDP ratio is below 40 per cent compared to the western world, where it is over 100 per cent in many countries,” says Sam Finkelstein, head of emerging market debt at Goldman Sachs Asset Management.
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