(Bloomberg) -- Southeast Asian currencies, including
the Indonesian rupiah and the Philippine peso, dropped because
investors cut holdings of emerging-market assets as U.S. bonds
extended declines.
The rupiah and the peso had their biggest slide in a week as
rising Treasury yields narrowed the premium investors receive for
holding emerging-market debt. Fund managers get 3.62 percentage
points more by keeping Indonesian 10-year bonds instead of
similar-maturity U.S. Treasuries, down from 3.85 percentage
points at the beginning of June.
Read more at Bloomberg Currencies News
the Indonesian rupiah and the Philippine peso, dropped because
investors cut holdings of emerging-market assets as U.S. bonds
extended declines.
The rupiah and the peso had their biggest slide in a week as
rising Treasury yields narrowed the premium investors receive for
holding emerging-market debt. Fund managers get 3.62 percentage
points more by keeping Indonesian 10-year bonds instead of
similar-maturity U.S. Treasuries, down from 3.85 percentage
points at the beginning of June.
Read more at Bloomberg Currencies News
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