21. Emerging market debt was also boosted by rising U.S. and Asian stocks. 22. Emerging market debt was led lower by Argentina, as pessimism about rising U.S. interest rates drove investors out of relatively risky securities such as Brady bonds. 23. Emerging market debt declined as weaker U.S. stocks underscored investor reluctance to put money into riskier emerging market bonds. 24. Emerging market debt ended the day little changed or lower on concern that, if the U.S. central bank raises interest rates tomorrow, some declines are likely. 25. Emerging market debt has been falling since Wednesday, when U.S. Federal Reserve Chairman Alan Greenspan hinted that the central bank may raise rates to head off inflation. 26. Emerging market debt has been following U.S. stocks -- probably the leading indicator of global liquidity at the moment -- since late October. 27. Emerging market debt posted the largest one-day rise in six weeks, lifted by U.S. bonds, which back many Brady securities. 28. Emerging market debt prices have been under pressure since last week, when Fed Chairman Alan Greenspan warned that low U.S. unemployment might drive wages and prices higher. 29. Emerging market debt was little changed after five days of steady rises, as gains in Peruvian, Brazilian and Argentine bonds were offset by declining Russian debt. 30. Emerging market debt was mixed, with many Latin American fixed-rate bonds pulled lower by the U.S. bond market. |