Kenya as Biggest Bond Loser Isn’t Scaring Morgan Stanley Analyst
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Kenya’s domestic bonds lost more money for dollar investors than any other emerging-market debt last quarter. Yet for Morgan Stanley, now is the moment to put cash into the east African nation.
An index of Kenya notes fell 6.9 percent in the three months through June 30, the most among 31 developing nations tracked by Bloomberg, while the shilling weakened 7 percent against the dollar in the period, its fifth straight quarterly drop and longest run of losses since September 1999.