GRAPHIC-Peripheral bonds, frontier stocks top first-half investment league

viernes 27 de junio de 2014 07:37 GYT
 

LONDON, June 26 (Reuters) - Frontier stocks and bonds from the euro zone's weaker government debtors yielded 20-30 percent returns in the first six months of 2014, while Chinese shares and copper languished at the bottom of the investment leagues.

Tentative economic improvements and support from the European Central Bank has buoyed relatively high-yielding peripheral debt this year, with Greek and Portuguese 10-year bonds returning 27 and 23 percent respectively, outgunning German and U.S. counterparts, according to the following graphic on global asset performance in dollars:

link.reuters.com/mun32w

For a graphic on government bond returns click:

link.reuters.com/gev78t

While gains in the second quarter slowed versus the first three months of 2014, peripheral markets also benefited from the ECB move to cut deposit rates into negative territory in order to yank the euro bloc away from deflation.

Frontier stocks from African or Middle Eastern markets were also the best performers in the second quarter of 2014, building on the first quarter's 7.2 percent gain. These markets tend to be less correlated with broader world markets.

The Reuters-Jefferies CRB commodity index, made up of 19 key commodities, is up more than 11 percent.

Gold is up 9 percent after a 28 percent fall last year but the lion's share of the gains came in the first quarter when the Russia-Ukraine tensions brought in safe-haven buying.   Continuación...