Sections Syndication |
Newsletter| Subscribe to newsletter: |
|
|
Home : Commodities : Emerging Markets Stocks bonds pummeled by drop in commodities
Emerging Markets Stocks bonds pummeled by drop in commodities *Emerging market equities fall to near 2-year low
*Emerging sovereign credit spreads widest since June 2005 *Latam currencies weaker versus U.S. dollar By Daniel Bases NEW YORK, Sept 11 (Reuters) - Falling commodity prices hit emerging market assets on Thursday, pulling emerging equities to a near two-year low and sovereign debt spreads to their widest point in over three years. A late rally on Wall Street helped pare some of the losses brought about by reports that struggling investment bank Lehman Brothers has been unsuccessful in its bid to bolster its balance-sheet with cash infusions from outside investors. "We are seeing it in the commodity markets, we are seeing it in emerging market equities, particularly in places where the growth is getting weaker or the premise around earnings associated with strong commodity prices don't look tenable against a weaker global growth outlook," said Don Hanna, head of emerging markets economics and market analysis at Citigroup in New York. Morgan Stanley Capital International's emerging markets stock index .MSCIEF fell 1.92 percent on Thursday, after hitting its lowest point since Nov. 6, 2006. Persistent worries that global economic growth is falling and thereby limiting the need to feed industry with raw commodities drove down prices of oil, gold and industrial metals. http://www.reuters.com/article/bondsNews/idUSN1132122820080911 344 times read
|
|||
|
Did you enjoy this article?
(total 0 votes)
|
||
Link to Us:
Business Financial Services