{"id":547358,"date":"2022-06-19T04:47:05","date_gmt":"2022-06-19T04:47:05","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/19\/global-ceos-spy-recession-on-horizon-more-on-the-crisis-in-em-debt-markets\/"},"modified":"2022-06-19T04:47:05","modified_gmt":"2022-06-19T04:47:05","slug":"global-ceos-spy-recession-on-horizon-more-on-the-crisis-in-em-debt-markets","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/19\/global-ceos-spy-recession-on-horizon-more-on-the-crisis-in-em-debt-markets\/","title":{"rendered":"Global CEOs spy recession on horizon + More on the crisis in EM debt markets"},"content":{"rendered":"

\n <\/a>
\n CEOs across the world are bracing themselves for a recession:<\/strong>
\n Only a quarter of business leaders across the world expect their economies to
\n avoid recession between now and the end of 2023, according to
\n a survey<\/a\n >. Conference Board\u2019s poll of 750 CEOs and other C-suite execs found that more
\n than 60% now expect their areas to fall into a recession by the end of next
\n year while 15% believe that recession is already here.\n<\/p>\n

\n What a difference six months makes:<\/strong> Just 22% of respondents
\n predicted a recession in the firm\u2019s survey in late 2021.\n<\/p>\n

\n It\u2019s a really, really bad time for EM d<\/strong\n >ebt:<\/strong> Rising rates and disruptions to the energy and
\n commodities markets are adding a wave of unprecedented pressures on emerging
\n market debt, the
\n Financial Times<\/a\n >
\n and
\n Wall Street Journal<\/a\n >
\n are both reporting. The difference in yields between the JPMorgan EMBI Global
\n index \u2014 a benchmark index of USD-denominated EM sovereign bonds \u2014 and US
\n treasuries has leapt in recent days. Over the past year, the index has risen
\n from 300 bps to more than 400 bps, according to Bloomberg data cited by FT.\n<\/p>\n

\n Foreign investors are rushing for the exits:<\/strong> Foreign
\n participation in local debt markets has fallen to just 18%, its lowest level
\n since 2009 as central banks remove the punchbowl of ultra-cheap money and
\n raise interest rates, the salmon-colored paper cites the Institute of
\n International Finance as saying.\n<\/p>\n

ALSO FROM PLANET FINANCE-<\/strong><\/p>\n