Brent's run ain't spent say experts as macro enjoys a barrel of laughs

global macro / ctas

David Murrin, chief investment officer at Surrey-based directional global macro fund managers Emergent Asset Management, says, as of 5 May, that in the emerging markets world, the emerging markets bond index (EMBI) has peaked after nine years of a "massive rally".

So much for the good news - the bad, at least for those who cannot run a short book, is that it leaves the market in for a "significant bear market" in EMBI product.

"This price decline should also be accompanied by a widening of sp