SniperFx

Archives

  • March 2023
  • February 2023
  • January 2023
  • September 2022
  • August 2022
  • January 2022
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019

Categories

  • Analysis
  • Bonds
  • COVID
  • Crypto
  • Forex
  • Forex Trading
  • Ideas
  • Investing
  • Stocks
  • Uncategorized
  • World
  • Home
  • Forex
  • Crypto
  • Contact
0 Likes
0 Followers
0 Followers
Subscribe
SniperFx
SniperFx
  • Bonds
  • Crypto
  • COVID
  • Forex
    • Forex Trading
  • Ideas
  • Investing
  • Stocks
  • World

Cross-border investment in emerging market bonds

  • admin
  • February 22, 2023
  • 2 minute read
Total
0
Shares
0
0
0

We provide stylized facts on nonresident holdings of emerging market bonds and analyze the determinants of euro area investors’ purchases of such securities, using a comprehensive security-level dataset that tracks net transactions of individual bonds issued by emerging market economies. Euro area investors show a preference for euro-denominated and sovereign EM bonds. Net purchases tend to be higher when the macroeconomic outlook of the respective EMs improves, and U.S. monetary policy is loosened. Conversely, euro area investors—in particular investment funds—sell emerging market debt when global financial stress is high. In a case study for the BRICS countries, we find that euro area investors treat EM bonds issued through offshore affiliates differently from onshore securities, likely reflecting differences in currency composition. The sell-offs of EM debt in 2018 as well as during the COVID-19 shock only affected securities issued directly by domestic entities while euro area investors held on to securities issued through offshore affiliates.

We’ve also written a blog highlighting some findings of the paper, particularly the differences in the investor base between China and other emerging economies and the importance of bonds issued offshore by Chinese corporate entities. The blog highlights that the largest holders of Chinese debt are Asian financial centers (especially Hong Kong and Singapore) and foreign central banks, while the euro area and the U.S. are the largest investors in bonds issued by other emerging markets.

The views expressed are those of the authors and do not necessarily reflect those of the European Central Bank or the International Monetary Fund. The authors are very grateful to their discussant Nicola Viegi, conference participants at the ERSA/CEPR workshop on “Emerging Markets Back in the Spotlight: Risks and Policy Options”, Andres Fernandez, and Maria Soledad Martinez-Peria for useful comments. Manuel Alcala Kovalski provided invaluable help with offshore securities’ data.

The Brookings Institution is financed through the support of a diverse array of foundations, corporations, governments, individuals, as well as an endowment. A list of donors can be found in our annual reports published online here. The findings, interpretations, and conclusions in this report are solely those of its author(s) and are not influenced by any donation.

Total
0
Shares
Share 0
Tweet 0
Pin it 0
admin

Previous Article

EFG Hermes concludes $20.87mln securitized bonds for Palm Hills Developments

  • admin
  • February 20, 2023
View Post
Next Article

Research examines antibiotic use during COVID-19 by age

  • admin
  • February 22, 2023
View Post
You May Also Like
View Post
  • Bonds

China’s green loans exceed 22 trln yuan, green bonds top 2.5 trln yuan -c.bank head

  • admin
  • March 29, 2023
View Post
  • Bonds

Romania’s Treasury pays 5.8% yield on 5-year EUR-denominated bonds sold to households

  • admin
  • March 28, 2023
View Post
  • Bonds

AUDUSD touches fresh daily top near 0.6765 region, upside potential seems limited

  • admin
  • March 26, 2023
View Post
  • Bonds

Deutsche Bank Stock Forecast DB shares drop 6% at open following bond sell-off

  • admin
  • March 25, 2023
View Post
  • Bonds

AUD/USD hangs near monthly low, below mid-0.6800s as traders await FOMC minutes

  • admin
  • March 23, 2023
View Post
  • Bonds

Gold Price Forecast XAUUSD collapses below $1950 as US bond yields aim higher

  • admin
  • March 22, 2023
View Post
  • Bonds

Worthington renovations for ‘premier’ park to be financed by bonds

  • admin
  • March 21, 2023
View Post
  • Bonds

Liam Neeson Reveals Rejecting James Bond’s Role Because Of His Then Girlfriend

  • admin
  • March 20, 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • Taiwan president defiant after China threatens retaliation for US trip
  • Adidas retracts opposition to Black Lives Matter three-stripe design
  • XRP Price Prediction What to Expect in the Next 48 Hours
  • HelenP. I Euro break resistance 1.0800 and can continue to grow
  • Concerns about insufficiently decisive Riksbank would put SEK under downward pressure – Commerzbank

Recent Comments

No comments to show.
Featured Posts
  • 1
    Taiwan president defiant after China threatens retaliation for US trip
    • March 29, 2023
  • 2
    Adidas retracts opposition to Black Lives Matter three-stripe design
    • March 29, 2023
  • 3
    XRP Price Prediction What to Expect in the Next 48 Hours
    • March 29, 2023
  • 4
    HelenP. I Euro break resistance 1.0800 and can continue to grow
    • March 29, 2023
  • 5
    Concerns about insufficiently decisive Riksbank would put SEK under downward pressure – Commerzbank
    • March 29, 2023
Recent Posts
  • EUR/USD comes under pressure near 1.0850
    • March 29, 2023
  • Crypto Trader Firmly Believes ADA’s Next Target Could Be $0.60
    • March 29, 2023
  • Game-Changer Nasal Spray A Universal Shield Against All COVID-19 Variants
    • March 29, 2023
Categories
  • Analysis (12)
  • Bonds (50)
  • COVID (77)
  • Crypto (69)
  • Forex (85)
  • Forex Trading (50)
  • Ideas (50)
  • Investing (50)
  • Stocks (93)
  • Uncategorized (40)
  • World (199)
SniperFx
  • Home
  • Forex
  • Crypto
  • Contact
Forex & Crypto Updates

Input your search keywords and press Enter.