African Eurobonds have enjoyed a remarkable bull run throughout 2014, with analysts expecting this to continue for the foreseeable future as developed economies continue to pursue dovish monetary policies.
While the renewed strength of the US dollar made life tough for emerging market bonds in the early weeks of November, African debt held firm. Total returns on JPMorgan’s global Emerging Market Bond Index fell by 1.05%, and losses were particularly significant in Venezuela, Russia and Ukraine. Africa Eurobonds performed relatively well, losing just 0.48%.
