Local emerging market bonds drew their first net inflow since April, while emerging market equities recorded a third week of inflows, adding a net US$3.2 billion.
With an historic approach of ultra-low interest rates, deflationary Japan has set the ‘floor’ for global rates for the past 30 years, BofA said, adding that this floor would now be higher with the planned end of the BoJ’s yield-curve control in 2023. Stocks took a hit last week after several major central banks raised interest rates, including the Federal Reserve and the European Central Bank , along with warnings that more hikes are needed to curtail inflation.
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