Hungary puts EM's best foot forward

摘要

Hungary shrugged off concerns over Russia's annexation of Crimea on Tuesday, completing its external borrowing needs for 2014 with a US$3bn dual-tranche deal. The transaction showed that despite the negative headlines, investors have plenty of cash they need to deploy and will do so if the right opportunity emerges. While investors are taking money out of Russia, they are putting it in solid sovereigns elsewhere in the emerging markets.