Other notable entrants are WisdomTree Emerging Markets Local Debt (ELD) and Cambria Global Tactical (GTAA) .
That maturity has a lot of countries issueing more local debt than sovereign debt.
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ING, for instance, wants to sell local debt instruments, like Brazilian treasury bills, to foreign investors.
Local debt markets are also difficult to trade without a local branch network, which adds to costs.
One way to play the strength of the Asian tigers is the WisdomTree Asia Local Debt Fund (ALD).
Local debt also did not trouble the World Bank, which could only talk in generalities in a January 2006 report.
To begin, please give us a big picture of circumstances in your Chicagoland region that offer a general reference to local debt.
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If local debt is a problem for the local governments in Cook County, Illinois, it is a problem in all counties across the country.
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When federal, state and local debt surpass GDP early next year the event will trigger headlines and a national discussion of what to do about it.
Without running a bigger surplus, Argentina will find it hard to meet even the payments on its non-defaulted local debt, much less renew payments on the rest.
Together with local debt, long term government bonds outstanding will total some JPY 900 trillion, close to 180 percent of GDP, a level higher even than crisis-gripped Greece.
Within the Latin American forex space, the Mexican peso now looks more attractive from a carry perspective that is where low interest rate countries like Japan buy the local debt of higher interest rate countries.
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QE3 could be state and local debt.
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Under new rules for sovereign bonds called OFZ and other local debt instruments, foreigners can tap in directly through the Euroclear service, bypassing the current need to have a Russian broker on the ground somewhere in Moscow or St.
However, investors who picked emerging market debt instead, especially local currency debt, would have done better if they just went that route instead of equities.
But most of the investors choosing emerging market debt are buying bond funds with local currency debt, rather than buying the sovereign or quasi-sovereign dollar denominated bonds that foreign countries like Brazil also issue.
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However, despite the increase in local currency fund inflows this week, as well as the overall backdrop of monetary easing, emerging market-dedicated investors continue to allocate a greater portion of funds into dollar-denominated emerging market debt over the former favorite: local currency debt.
Local currency debt in particular will become dominant, while local currency corporate bonds will be well on the way to occupying the very top spot within a decade, Ashmore forecasts.
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Luz Padilla of DoubleLine indicated in the call that while there may be less opportunities in emerging market government debt, there are still opportunities in emerging market corporate and local currency debt.
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While much public attention is directed to national, state and large-city debt issues, Treasurer Pappas warns homeowners and taxpayers to pay careful attention to mounting local public debt in their communities.
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At the same time, national and local government debt now approaches 200 percent of GDP.
Brazil's local currency debt and businesses in the food sector are also favorites of mine.
Income investors, will be turning to investment grade local currency debt in countries like Brazil.
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The current yield is lower than what the company would have secured in Brazilian local currency debt.
As a manager, Zervos is sticking with local currency debt instead of the sovereign bonds issued in dollars.
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Fund managers like Zervos in the US and Japanese Toshin funds love those yields in local currency debt.
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All told, outstanding local government debt has exceeded central government debt since 2007.
Similarly, that February the Organization for Economic Co-operation and Development issued a study lowballing the dimension of the local-debt situation.
Local currency debt come with higher coupons (yield at offer, and par), but come with the added risk of currency devaluation.
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