-J.P. MORGAN: J.P. Morgan emerging markets bond index plus gains 6.47% in October.

0 Comments | M2 Presswire, November, 1998

M2 PRESSWIRE-4 November 1998-J.P. MORGAN: J.P. Morgan emerging markets bond index plus gains 6.47 in October (C)1994-98 M2 COMMUNICATIONS LTD RDATE:031198 * ELMI up 7.85 The J.P. Morgan Emerging Markets Bond Index Plus (EMBI ) rose 6.47 in October, bringing its year-to-date loss to 17.04. All EMBI countries posted gains during the period.

The Fed's unannounced rate cut in early October spurred activity in the global financial markets and benefited asset prices. At month end, Brazil announced its fiscal adjustment package, in line with market expectations. Among EMBI regions, Europe ( 12.43) outperformed during October due to Russia's rebound. Russia was the top performer for October, increasing 22.07. Asset values posted gains over September's lows, due to...