EM investors should be wary of currency movements, says Payden & Rygel

thailand-big
Thailand: beautiful country, shame about the yields

Yield-hungry bond investors should be wary of indiscriminately investing in emerging market local currency debt, according to senior managers at investment firm Payden & Rygel.

In an interview with Credit, managing principals Robin Creswell and Kristin Ceva said investors must be prepared to accept higher volatility when opting for EM local currency debt over deals issued in hard currencies.

“We have seen quite an indiscriminate take-up of the theme of local currency. Potential investors are loo

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: