One veteran emerging-market investor is fond of saying that emerging markets are the ones where risk is priced in and developed markets are the ones where risk is overlooked. For many years, he and others like him were lonely voices. But today it seems the whole market agrees, which is a sure sign of trouble brewing.
Russian top 10 bank collapses
December 1, 2010Russia's central bank leaves bondholders on edge as one of the country's biggest banks goes under.
Ukraine bounces back following $2bn Eurobond issues
September 29, 2010Emerging again: Ukraine has posted positive financial news
Ukraine has made a successful return to the capital markets after raising $2bn. The government issued two separate Eurobond issues, a 10-year $1.5bn placement with a 7.8% coupon, and a five-year $500m one at 6.9%. The move marks a rapid change in fortunes of the country after the government asked the International Monetary Fund (IMF) for funds as recently as August this year.
Hungary risks shooting itself in the foot
September 29, 2010If you are planning to borrow a lot of money and not pay it back, Hungary would probably be the best place to carry out your scheme.
Time to rethink Keynes for the 21st century
September 29, 2010The great debate in economics is whether heavily indebted governments in Europe and the US should keep spending to stimulate economic recovery or move quickly to balance the books.
Hong Kong benefits from China's dynamism
August 30, 2010As mainland China continues to develop its capital markets, Hong Kong is well placed to pick up new cross-border trade and help facilitate the internationalisation of the renminbi.
Moscow maps route to leading IFC status
August 30, 2010Moscow is already the financial hub for the former Soviet territories, but formidable legislative and infrastructure hurdles stand in the way of its aspirations to become a global IFC. Now the city and the Russian state are striving very seriously to address these issues, says Yuri Roslyak.
