Quotes from the news wire:
EM fixed income benchmarks are giving double digit returns so there is a lot of appetite out there to chase those returns higher still, post-BOJ there is a small pullback but it's concentrated on oil-centred emerging markets and the market seems confident the low-yield environment and stabilising emerging growth is consistent with EM assets holding up.
Inflation came out at 8.9 percent at the end of last year and they have just hiked minimum wages and raised civil sector pay so there are some inflation shocks still to come there, the market really does want to see them making greater strides (in tackling inflation) now, so we really need to hear something from the central bank.
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