Tellimer Frontier Bonds Index: Frontier set to outperform EM

  • The Tellimer frontier market yield has risen this year by 7bps to 6.78% compared to a 59bps rise on Investment Grade EM

  • Reasons include high commodity prices, easing in default fears and SDR allocation, which tend to benefit frontiers more

  • Still wide frontier premium provides room for further outperformance although higher government debt poses key risk
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This report is independent investment research as contemplated by COBS 12.2 of the FCA Handbook and is a research recommendation under COBS 12.4 of the FCA Handbook. Where it is not technically a research recommendation because the subject of the research is not listed on any European exchange, it has nevertheless been treated as a research recommendation to ensure consistent treatment of all Tellimer's research. This report has been produced by the analyst(s) named above (the "Analyst").

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