Sentences with phrase «local currency bond»

Argo Local Markets Fund (ALMF, $ 7 mio): This is a new long / short emerging markets local currency bond fund, launched in Nov - 2012.

Reflecting the strong demand and continuous development, the size of the Asian local currency bond markets, measured by the S&P Pan Asia Bond Index, expanded by more than 9 % to USD 6.94 trillion in 2014.

The iShares J.P. Morgan EM Local Currency Bond ETF provides exposure to bond issues across several emerging markets — a riskier proposition on its face than investing in developed countries with better credit ratings, which helps explain the high yield.

Many Pan Asian local currency bond markets are now made easier for foreign investors to access, particular through the use of exchange traded products.

The size of Asia's local currency bond markets, as measured by the S&P Pan Asia Bond Index, continued to expand and grew 17 % to reach USD 12.1 trillion in 2017.

The overall local currency bond market in Indonesia, as represented by the S&P Indonesia Bond Index, rose 14.05 % YTD, and it was the best - performing country within Pan Asian bond universe.

The size of Asia's local currency bond markets, as measured by the S&P Pan Asia Bond Index increased 21 % to USD 8.40 trillion in 2015, which reflected the continuous market expansion.

We use a five - year bond as representative of the approximate duration risk an investor faces in a broad emerging markets local currency bond index.

Exhibit 1 lists the yield - to - worst of the ten local currency bond markets tracked by the S&P Pan Asia Bond Index.

The local currency bond market, as tracked by the S&P China Bond Index, grew over 19 % in the past year.

Question One: How big is Japan's local currency bond market?

The size of the local currency bond market in Japan (tracked by the S&P Japan Bond Index) stood at JPY 1,154 trillion as of Jan. 27, 2016, which is equivalent to USD 9.7 trillion.

It is 1.7 times the size of the local currency bond market in China, as measured by the S&P China Bond Index.

The size of Asia's local currency bond markets, as measured by the S&P Pan Asia Bond Index, gained 20 % to reach USD 10.3 trillion in 2016, reflecting steady market expansion.

Other investors may want to consider the iShares Emerging Markets Local Currency Bond ETF (LEMB), iShares Emerging Markets Corporate Bond ETF (CEMB), or iShares Emerging Markets High Yield Bond ETF (EMHY).

In the EM local currency bond space, Colombia (10 - year yield -37 bp), South Africa -LRB--18 bp), and Ukraine -LRB--17 bp) have outperformed this week, while the Philippines (10 - year yield +27), Brazil (+20 bp), and Mexico (+4 bp) have underperformed.

The two largest holdings, which each represent 15 % of the total, are iShares MSCI EAFE Small - Cap ETF and iShares Emerging Markets Local Currency Bond ETF.

Concurrently, Moody's has lowered Angola's foreign - currency bond ceiling to B1 from Ba3, the foreign currency deposit ceiling to B3 from B2, and the local currency bond and deposit ceilings to Ba2 from Ba1.

But concerns about FX risk management were far from eliminated and the experience reinforced the importance of having local currency bond markets and well - functioning FX hedging markets.

These initiatives have included various measures to encourage broader participation in local currency bond markets, including by non-residents.

Continued foreign currency bond issuance by Asian residents and foreign participation in local currency bond markets has contributed to this growth.

And indeed, Rosneft this week raised some $ 9.4 billion through the sale of local currency bonds, at a time when it has no other conceivable use for such a huge pile of cash.

The emerging market slaughter will continue, especially for countries with weaker fundamentals; their equities, currency and local currency bonds and foreign currency bonds bearish slump has not yet reached the bottom.

Finally, we prefer hard - currency EM bonds — particularly high - yielding oil exporters such as Russia, Colombia and Kazakhstan — and short - duration local currency bonds in some countries.

Bonds denominated in renminbi in the Hong Kong market, known as CNH bonds, outperformed dollar - denominated and other local currency bonds in Asia last year, with a more than 6 % total return in dollar terms, as investors sought stability in the resilience of the Chinese currency, according to a report by HSBC.

Emerging - market local currency bonds returned almost 3 per cent, while equities from developing nations also clung onto gains.

The S&P Pan Asia Bond Index, which seeks to track local currency bonds in 10 countries and is calculated in USD, continued to be weighed down by the weakness of local currencies in 2016, dropping 1.86 % for the year.

The S&P Pan Asia Bond Index tracks the performance of the local currency bonds in the 10 Pan Asian countries.

Despite the weakness in local currencies, the S&P Pan Asia Bond Index, which is designed to track local currency bonds in 10 countries and is calculated in USD, delivered a total return of 1.45 % for 2015.

As tracked by the S&P Japan Bond Index, a broad base benchmark that measures the performance of the government and corporate local currency bonds in Japan, the total outstanding par amount have reached over 1,070 trillion Yen this August.

Given recent price and economic momentum, we are reasonably confident the bear market in EM assets — five years long for EM equities and currencies, and three years long for EM local currency bonds — came to an end in January 2016, and the early stages of a bull market look to be well underway.

These local currency bonds will be more volatile, but could prove to be a better diversifier for a portfolio that's mostly devoted to U.S. stocks and bonds.

And so «credit» excludes all local currency bonds.

Not exact matches

There are currently no emerging - market fixed income products denominated in Canadian dollars; investors have to buy either American dollar securities (also called hard dollar bonds) or the local currency option.

Both come with exchange risks, but U.S. dollar bonds are usually less volatile than those denominated in local currency, says Lian.

IIF noted in a recent report that plans to privatize several state - owned enterprises beyond the Aramco deal, a doubling in the size of the domestic stock market and the trading of local currency government bonds on the Saudi exchange, which began this month, all deepen the kingdom's capital markets.

It puts 25 % into foreign stocks, 25 % into U.S. Treasuries, and 10 % each into commodities, emerging - market currency, bank loans, high - yield bonds, and 5 % each into TIPS and local - currency emerging - market debt.

That puts pressure on currencies, because bonds are mostly denominated in the local coinage.

A well - functioning local - currency bond market allows a government much more economic policy flexibility than can be experienced when tied to foreign currency borrowing.

As usual, the development of local currency sovereign bond markets has helped by providing a benchmark for pricing.

Issuers may be located in any geography, but holdings must be either denominated in one of the G10 currencies, or issued outside of the home market of the issue currency — effectively excluding local - currency emerging - market bonds.

That group issued a report in September, identifying ways international development banks and other organizations can support the development of local currency green bond markets around the world.

Capital controls have historically been as much about preventing foreigners from buying local government bonds as it has been about preventing destabilizing bouts of flight capital, and living in China, where an aggressive demand for the privileges of reserve currency status coincide with equally aggressive policies that prevent the RMB from achieving reserve currency status (and that transfer ever more of the «benefits» to the US) made clear the huge gap in rhetoric and practice.

Yet the currency is likely to remain weak as zero - anchored Japanese 10 - year bond yields encourage local investors to buy higher - yielding foreign bonds.

The government's elevated gross borrowing requirements estimated at around 17 % of GDP per year between 2017 and 2019 are mainly driven by sizeable maturing government bonds — in particular, local currency USD - indexed bonds — on top of fiscal deficits averaging around 3.8 % of GDP.

Australia's central bank signaled today it may resume cutting interest rates as soon as next month if weaker - than - forecast growth slows inflation, sending the local currency and bond yields lower.

When GEM is in bonds, investors would use either their local country's aggregate bond index or a currency - hedged version of the US Aggregate Bond Inbond index or a currency - hedged version of the US Aggregate Bond InBond Index.

«GEM (Local)» is when foreign investors trade permanently on their local stock exchange using currency - hedged ETFs for both equity and bond trLocal)» is when foreign investors trade permanently on their local stock exchange using currency - hedged ETFs for both equity and bond trlocal stock exchange using currency - hedged ETFs for both equity and bond trades.

The S&P Indonesia Bond Index tracks the performance of local currency denominated government and corporate bonds from Indonesia and with a Read more -LSB-...]

Economic fundamentals have turned a corner and a more stable U.S. dollar suggests an opportunity for local - currency bond investing.