Most strong listings fail to sustain gains

Of the 21 IPOs since December 1, 19 shares returned between 9% and 160% on their debut. After the positive start, 17 are trading below their opening prices.

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EM local bonds gain favour as dollar debt lags

Current trends indicate that investors are leaning towards local emerging market debt rather than dollar-denominated bonds. The allure of attractive valuations combined with ongoing carry