Buying On Dips

June 2004 | Bond Sentiment Index

In line with our own cautiously optimistic view of emerging markets external debt over the past month, following the severe declines of April and early May, our surveyed banks have in general used the recent weakness to add exposure to the asset class. This is reflected in the 1.6 point rise in our Bond Sentiment Index (BSI) for June to 98.9. However, as we mention elsewhere in the publication, despite the adoption of a positive stance of late, we are not yet convinced that the current rally can extend to the highs of Q104. Much, of course, will depend on

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