UPDATE 1-Trading volume of 2014 emerging market debt grew 6 pct to $5.922 trln-EMTA

viernes 13 de marzo de 2015 13:33 GYT
 

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By Daniel Bases

NEW YORK, March 13 (Reuters) - The trading volume of emerging market debt grew 6 percent to $5.922 trillion in 2014 from the previous year, amid sharp drops in the sector's currencies, interest rates and key commodity exports, a new survey showed on Friday.

Fourth-quarter volumes, however, declined 8 percent to $1.210 trillion from the same period a year earlier, EMTA, the association for the emerging markets debt trading industry, said in a statement.

"After a poor start to 2014, with a sharp sell-off in EM currencies and rates, the situation improved toward Q2 as EM assets rebounded across the board," said Christian Keller, managing director and head of global economics research at Barclays.

"However, this reversed again during the summer as the outlook for global growth turned gloomy, commodity prices plunged and the (U.S. dollar) rallied."

Eurobond trading volumes surged 24 percent to $2.344 trillion last year. Fourth-quarter volumes increased 13 percent to $519 billion versus the same period in 2013.

Sovereign debt trading of $1.145 trillion made up 49 percent of Eurobond activity, down from a 56 percent share in the prior year of $1.073 trillion.

Corporate Eurobond trading of $1.104 trillion was 47 percent of Eurobond activity, up from a 41 percent share in 2013.   Continuación...