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Bond investors rush into high yielding bonds on receding EM debt crisis fears, but the polycrisis pressure is still on

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By Ben Aris in Berlin Egypt and Tunisia have both cut deals with the International Monetary Fund (IMF) recently, putting off crises in both countries for the meantime, and recent fears of an EM debt crisis have abated. Food prices are beginning to fall, and that is having a knock-on effect to curb soaring global inflation. Central banks in Central Europe are reaching the end of their tightening cycle after a string of aggressive hikes, and the US Federal Reserve has suggested it will slow the pace of rate hikes now that inflation appears to be peaking in the US. Forced into action, some of the…

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