Fund manager Ashmore snaps up Brazil, China local currency bonds
LONDON, April 9 (Reuters) – Fund manager Ashmore Group has bought Brazilian and Chinese local currency bonds as it remains focused on broader emerging market local debt, betting on strong performance during 2021.
Brazilian markets have had a tough start to 2021, with local currency bonds selling off by around 170 basis points and the real currency sliding 7% against the dollar as concerns about politics surfaced and as the country battles the world’s worst daily COVID-19 death toll.
By Tom Arnold via Reuters