{"id":8898,"date":"2012-03-14T15:10:16","date_gmt":"2012-03-14T13:10:16","guid":{"rendered":"http:\/\/www.myza.co.za\/03\/emerging-markets-debt-spreads-tightest-since-aug-china-weighs-on-stocks\/"},"modified":"2012-03-14T15:10:16","modified_gmt":"2012-03-14T13:10:16","slug":"emerging-markets-debt-spreads-tightest-since-aug-china-weighs-on-stocks","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/emerging-markets-debt-spreads-tightest-since-aug-china-weighs-on-stocks\/","title":{"rendered":"EMERGING MARKETS-Debt spreads tightest since Aug, China weighs on stocks"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Emerging debt spreads tighten below 300 bps, lowest since<br \/>\nAug. 2011<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Chinese stocks weigh on EM stocks with fall of 2 pct<\/p>\n<p><span><\/span><\/p>\n<p>* Russian, Polish CDS narrowest since Aug. 2011, Russia on<br \/>\nbond roadshow<\/p>\n<p><span><\/span><\/p>\n<p>By Philip Baillie<\/p>\n<p><span><\/span><\/p>\n<p>LONDON, March 14 (Reuters) &#8211; Emerging sovereign debt<br \/>\nspreads tightened to their narrowest since August on Wednesday,<br \/>\nas a stronger U.S. growth outlook emboldened investors venturing<br \/>\ninto riskier markets, though a poor performance in Chinese<br \/>\nstocks curbed emerging equity gains.<\/p>\n<p><span><\/span><\/p>\n<p>Emerging debt spreads have tightened 70 basis points<br \/>\nthis year below the psychologically key 300 bps level, following<br \/>\na second round of cheap funding released from the European<br \/>\nCentral Bank.<\/p>\n<p><span><\/span><\/p>\n<p>These cheap loans have made higher-yielding riskier assets,<br \/>\nincluding emerging sovereign debt, more attractive to investors<br \/>\nas they use the money for carry trades.<\/p>\n<p><span><\/span><\/p>\n<p>Investor sentiment for emerging stocks was also boosted by<br \/>\nthe Federal Reserve&#8217;s description of the U.S. economy late on<br \/>\nTuesday as &#8220;expanding moderately&#8221;, compared to a &#8220;modest&#8221; growth<br \/>\ntag used in its January statement, a sign that a further round<br \/>\nof easing (QE3) is now less likely.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;We have had a very strong run in U.S. economic data and<br \/>\neuro zone data have started to improve, but we are probably in<br \/>\nfor a period of slower gains in emerging markets,&#8221; said Manik<br \/>\nNarain, emerging markets strategist at UBS.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Emerging debt spreads tighten below 300 bps, lowest since Aug. 2011 * Chinese stocks weigh on EM stocks with fall of 2 pct * Russian, Polish CDS narrowest since Aug. 2011, Russia on bond roadshow By Philip Baillie LONDON, March 14 (Reuters) &#8211; Emerging sovereign debt spreads tightened to their narrowest since August on [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-8898","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8898","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=8898"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8898\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=8898"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=8898"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=8898"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}