Morning Commentary: EM debt mixed at open; tone softer on low prices, wider spreads

By Rebecca Melvin

New York, July 23 – There wasn’t much activity detected in emerging markets debt early Monday, but the market was mostly mixed, with a tone that was softer overall, market sources said.

“There are both low and high beta issues that are lower on price with wider spreads,” a New York-based market source said.

There were not any particular drivers for directional views yet, the source said, adding that it is likely that investors are looking for the news catalyst.

Despite that, there were some headlines from the G20 meeting this week that were seen as positive for emerging markets debt, the source said.

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