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Emerging Markets’ Euroclear Ambitions Boost Bond Returns

  • Egypt’s plans to join settlement system helped spur bond rally
  • Turkey seeking membership may ease access for some foreigners
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Bloomberg’s Marton Eder reports on the best performing emerging debt markets.Source: Bloomberg)
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Some of the best-performing debt globally is getting an extra boost as developing nations race to plug their bond markets into the world’s biggest international settlement systems.

Egyptian pound bonds have brought investors a 37% return in dollar terms this year, the best performance in emerging markets. On top of falling interest rates and a recovering economy, government efforts to make local debt eligible in January for membership in Euroclear Bank SA’s bond settlement system have contributed to the rally.