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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (5112)	1/14/2004 7:24:54 PM
From: Crimson Ghost	Read Replies (1) \| Respond to of 110194

I have never owned emerging market funds -- just domestic junk. What you may not know is that emerging market debt has RADICALLY outperformed domestic junk bonds over the last 5 years. Domestic junk has a LONG way to go before it catches up with emerging markets. Many of the emerging market funds have made new all time highs this year. Most domestic junk bond funds however remain FAR below their late 1990s peaks despite the stong rally over the past 15 months. The junk funds I follow would have to rally 40-50% from here to reach their previous highs and another 30% or so to match emerging market debt funds. Emerging market debt and domestic junk are two VERY different animals.