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Emerging markets debt trading rises to $1.3 trillion in Q1 -EMTA
June 20, 2017 / 5:51 PM / 3 months ago

Emerging markets debt trading rises to $1.3 trillion in Q1 -EMTA

NEW YORK, June 20 (Reuters) - Trading volume for emerging market debt rose to $1.323 trillion in the first quarter of 2017, up 17 percent from its fourth quarter 2016 levels and 2 percent higher than levels during the first three months of last year, a survey of investment and commercial banks in emerging market countries found.

The survey results from EMTA, the emerging markets debt trading and investment industry trade association, were released Tuesday.

The trade group said earlier this year that debt trading volume rose 9 percent in 2016 to $5.167 trillion.

”The total volume numbers up for the quarter, and also on a year-on-year basis, confirm both current client interest, as well as total EM inflows that the market has been receiving,” Gunter Heiland, partner at Gramercy Funds Management said in a release.

Local market trading rose to $722 billion in the first quarter from its fourth quarter 2016 levels, which accounted for 55 percent of total reported volume, EMTA said. However, it was a 12 percent decrease from the first quarter of last year.

Debt instruments from Brazil were the most heavily traded followed by Mexico and China. Brazilian debt trading increased by 51 percent in the first quarter compared with the same time period a year ago.

EMTA recently reported $404 billion in emerging markets CDS volume during the first quarter of this year. That was an increase of 11 percent over the $363 billion in CDS volume reported in the first quarter of 2016 and a 32 percent jump compared to the fourth quarter’s $306 billion of volume.

EMTA surveys 45 leading investment and commercial banks in 90 emerging market countries. (Reporting by Dion Rabouin; editing by Diane Craft)

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