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  Emerging Market Local Currency Review - 1st Quarter 2017
Posted Under: Emerging Markets

The start of 2017 saw positive momentum spread across most emerging market assets, a contrast to the negative sentiment we witnessed immediately following the U.S. presidential election in the last quarter of 2016. Local currency-denominated assets enjoyed a positive quarter as most emerging market currencies strengthened versus the U.S. dollar. Given the exceptionally cheap valuations for these emerging market currencies, as we explore further below, it is not surprising that they are attracting investor attention.

The most widely followed emerging market local currency benchmark, the JP Morgan GBI-EM Global Diversified Index, returned 6.50% for the 1st quarter of 2017. The yield on the JP Morgan GBI-EM Global Diversified Index fell 24 basis points to 6.55% over the period, while the yield on 5-yr maturity U.S. Treasury bonds was relatively flat, falling 1 basis point to 1.92%.

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Posted on Tuesday, May 2, 2017 @ 3:58 PM • Post Link Share: 
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These posts were prepared by First Trust Advisors L.P., and reflect the current opinion of the authors. They are based upon sources and data believed to be accurate and reliable. Opinions and forward looking statements expressed are subject to change without notice. This information does not constitute a solicitation or an offer to buy or sell any security.
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