Bonds
Frontier Markets Win Over Bond Investors With ‘Radical Shift’
- Rate hikes, currency devaluations make bonds attractive
- Goldman Sachs predicts Nigeria’s naira has turned corner
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Frontier markets have embarked on aggressive policy shifts, and investors in local-currency bonds are starting to reap the benefits.
Central banks across key frontier economies including Kenya, Nigeria and Egypt have hiked interest rates significantly in recent months, while also implementing steps to liberalize markets — such as Nigeria’s move to allow free trading in the naira.