Morning Commentary: EM debt primary quiet; Turkey improves in secondary trade

By Rebecca Melvin

New York, July 19 – Emerging markets remained quiet on Thursday with no new issuance announced or priced in the Central & Eastern Europe, Middle East and Africa or Latin America regions, according to market sources.

But the secondary market “has been reasonably constructive this week,” a London-based market source said.

Turkey has been better as well as many of the other sovereigns, the source said, attributing the improvement to a slight reduction in negative geopolitical headlines including trade tariffs.

Turkey has improved as market players get more comfortable with the new cabinet there, the source said.

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