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Emerging Markets: Selectivity key as Fed path clouds – HSBC

HSBC Asset Management notes that Emerging Market local-currency bonds have delivered strong returns over the past four years, supported by credible policies and attractive real yields, but year-to-date performance has softened as US Treasury yields rose and EM-US real rate differentials narrowed.

Ukraine Inflation Picks Back Up to 7.7% as Core Prices Refuse to Budge

Ukraine's annual inflation accelerated to 7.7% in July from 7.2% in June, while core inflation held at 8.1%, according to the State Statistics Service. Water tariffs surged 31.9% and transport services jumped 28.9% annually as a result of the spike in prices caused by the Middle East war. Fuel price growth eased slightly to 28%.

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