A Bloomberg index of high-yielding sovereign dollar debt is heading for a 15% surge this year, the biggest annual gain since 2016. Global investors are rewarding countries such as Argentina, Sri Lanka and Ghana for healing their defaults and embarking on economic reforms. This rally has shown resilience even to the US yield spikes of the past two months.
SRF offers relative outperformance amid downtrend: Aditya Arora
Again, highlighting that, given the downtrend, I am not expecting runaway rally but I maintain neutral to bullish stance in this counter.