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Trade ministers from the dozen Pacific nations in the Trans-Pacific Partnership |
In late September Daniel Tenengauzer, RBC’s head of emerging market and global FX strategy, was taking a step back to explain to Euromoney why he believed the widening spreads of emerging market credit default swaps, which had risen close to their post-crisis highs, would keep going higher.
“The key question is, are we at the top of the range we have had for the past three years or are we going to break through? And my opinion is that we are at the bottom of a new range,” he explains.
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