TABLE-Emerging markets' Fed-fuelled rout in 2013

viernes 12 de septiembre de 2014 08:56 GYT

LONDON, Sept 12 (Reuters) - Emerging markets suffered a
torrid sell-off last year after the then-chairman of the U.S.
Federal Reserve, Ben Bernanke, hinted that the U.S. central bank
could soon start cutting back on its bond-buying.
    But investors are betting that the asset class will be more
resilient now, even though the Fed may end its money printing
next month, and may raise rates by mid-2015. 
    Following is a table, based on data from RBC Capital markets
and Thomson Reuters, detailing the furthest extent of moves in
emerging asset classes last year between Bernanke's May 22
speech and the following July or August:
 ASSET             MAY        JULY/AUG   CHANGE         NOW
                                         or vice-versa)
 US 10Y yield      1.63 pct    2.74 pct   111 bps       2.6 pct
 EM local debt     6.94 pct    9.10 pct   216 bps       8.7 pct
 EM FX index       96.38       87.36                    86.4
 EM CDS index      228         377        149           277     
 EM corporate CDS  182         300        118           212               
 MSCI EM equities  1050        877        17.6 pct    1,100    
 EM dollar bond 
 spread vs US10Y   298 bps     372 bps    116 bps       303 bps   
 - Source RBC, Thomson Reuters    

 (Reporting by Sujata Rao; Editing by Kevin Liffey)