Ratings At A Cyclical Peak, But Outperformance Here To Stay

BMI View: We continue to see few risks to Asian external creditworthiness over the medium term as stable fiscal and current account positions keep sovereign debt supply subdued. However, with the strength of the regional economic recovery likely past its peak, we believe that our Sovereign Risk Ratings have also probably topped out. Regarding financial markets, the bull market in external debt appears to be nearing an end.

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