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DBS’s Lee: The “pain” in EM to get worse

Recession risks across emerging markets (EMs), interest rate hikes in developed markets (DMs), and ongoing trade tensions will likely worsen the prospects of EM bonds, according to DBS Bank. “The upcoming FOMC meeting on 26 September will reaffirm the Fed’s plan to gradually increase interest rates to more than 3% (from 2% presently) over the next couple of years,” Frank…

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