Societe Generale Bullish on GEM Bonds

After Federal Reserve Chair Ben Bernanke announced that tapering would not start this month, most investors expected emerging market bonds to rally as they had been given extra time to prepare for what would be a difficult financial environment, but the EMBI index has only risen 0.9 percent in the last week. With strong demand and a short reprieve from the Fed, Societe Generale SA (GLE) (SCGLY) analyst Benoit Anne is bullish on global emerging market bonds (GEM bonds). EM credit facing uncertainties “The upward pressure on UST yields has eased a bit, but the EM credit market is still facing…