Emerging markets may be buffeted by a stronger U.S. dollar and lower commodity prices, but the segment's bonds still look like a good bet, analysts said.
"A significant rise in the international debt of emerging market corporations since the end of the last recession has raised concerns that they could be vulnerable to a continued strengthening of the dollar," John Higgins, chief markets economist at Capital Economics, said in a note Wednesday. But he added "the currencies of some of the countries where issuance has been large are unlikely to depreciate much further, if at all."
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While Chinese companies were responsible for a third of the increased issuance, the country's currency, the yuan, is actually likely to appreciate, not depreciate, he noted.