Oil volatility drives EMD funds out of exporters
Countries such as Mexico and Colombia affected
Oil futures still trade below historical levels at $17 and $24 a barrel for WTI Crude and Brent futures respectively
Extreme oil price volatility in recent weeks has pushed hard-hit emerging markets bond funds to cut exposure to exporter sovereigns and lengthen portfolio duration amid concerns that even more countries fighting the economic impact could see credit rating downgrades.
WTI Crude futures dipped as far as $30 into negative territory for the first time in history in April, largely due to reduced demand for the May contract and limited purchaser storing space, which was...
More on Commodities
Back to Top
