Local bond markets seeing more domestic investors, IMF says
But EMDEs must be mindful of growing sovereign-bank nexus as foreign investors depart, latest GFSR chapter notes
Emerging markets and developing economies (EMDEs) have issued more sovereign bonds in their local currencies in the past few years, with domestic investors increasingly absorbing issuance, the International Monetary Fund has found.
In chapter 3 of its Global Financial Stability Report, published today (October 6), the IMF notes that local currency bond markets (LCBMs) are growing, especially in countries with strong economic fundamentals.
It says domestic investors, including banks, pension funds
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