#EMTA Vera: Venny is a lousy story. Never seen it so bad. Devaluation likely after election. Ukraine’s Yanukovich playing dangerous game.
#EMTA Millennium’s Vera: Argy overhyped. Don’t see change in thinking on policy. If going to be there then be in local debt.
#EMTA NWI’s Hariharan – locals in Brazil in complete panic mode. Usually a great signal to buy Brazil.
#EMTA annual meeting. Discussion about credit growth, U.S. tapering impact on EM. Not much concern among panel 1 on liquidity dry up.
NEW YORK, Nov 22 (Reuters) – Emerging market credit default
swap contract trading volume rose 39 percent to $297 billion in
the third quarter of this year versus the same period in 2012,
according to data released on Friday by EMTA, the trade
association for the emerging markets.
CDS act as a kind of insurance for investors who own debt,
in this case debt issued by sovereign nations, against potential
default or restructuring.
NEW YORK (Reuters) – The euro tumbled across the board on Wednesday after a report that the European Central Bank is considering negative deposit rates to boost inflation closer to its target.
Additional selling pressure on the euro ensued after the release of minutes from the U.S. Federal Reserve’s October interest rate policy-setting meeting. The minutes showed many members felt the downside risks to the economic outlook have diminished and if data warranted it could decide to slow the pace of quantitative easing at one of its next few meetings.