Miyajima, Ken; Mohanty, Madhusudan; Chan, Tracy - Bank for International Settlements (BIS) - 2012
Over the past three years, cross-border inflows into emerging market (EM) local currency bonds have surged. The returns … local currency government yield. The importance of local drivers has probably increased the potential diversification … benefit, creating strong appetite for the asset class. Second, the paper confirms that EM local currency government yields …