PT - JOURNAL ARTICLE AU - Cheikh A. Gueye AU - Amadou N.R. Sy TI - U.S. Interest Rates and Emerging Market Bond<br/>Yield Spreads: <em>A Changing Relationship?</em> AID - 10.3905/jfi.2013.22.4.048 DP - 2013 Mar 31 TA - The Journal of Fixed Income PG - 48--52 VI - 22 IP - 4 4099 - https://pm-research.com/content/22/4/48.short 4100 - https://pm-research.com/content/22/4/48.full AB - The empirical evidence on the impact of international interest rates on emerging market (EM) bond spreads is mixed. In this article, we closely examine the 2000–2009 period and find a negative relationship between U.S. interest rates and EM bond spreads. We argue that the relationship between U.S. short rates and EM bond spreads is unstable and can change depending on how other “push” and “pull” factors, such as investors’ appetite for risk and emerging markets’ economic fundamentals, interact.TOPICS: Fixed income and structured finance, emerging