Emerging Markets' Local Currency Debt Takes the Spotlight

Puerto Rico's bond yields shot up after President Donald Trump's pledge to "wipe out" its debt following the devastation caused by Hurricane Maria. High levels of household debt in the developed world and the beginning of normalization of interest rates by major central banks make emerging market debt an interesting alternative for investors.

This asset class has developed tremendously over the past two decades. Before the turn of the century, all that investors could hope for were perhaps a few dollar-denominated sovereign bonds from major developing countries. Nowadays, an array of options exist: There are corporate as well as sovereign bonds, denominated either in local currencies or in major ones such as dollars or euros....552 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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