Emerging debt, stocks suffer biggest daily outflows of 2019 on Friday: IIF

LONDON (Reuters) - Emerging market debt and equities suffered their biggest outflows of 2019 on Friday with hefty losses continuing on Monday amid a sharp escalation of Sino-U.S. trade tensions, data from the Institute of International Finance showed (IIF).

Analysing high frequency data from local stock exchanges and debt offices, the IIF, found that $2.33 billion of portfolio money had been pulled from developing bond and stock markets on Friday - the largest daily outflows of the year.

“Friday’s Trade Tantrum II is now the 5th worst day for EM flows since (early) 2018,” the IIF said.

Meanwhile, partial flow data for Monday showed that developing fixed income and equities had hemorrhaged another $1.43 billion already even before trading in the Americas was added.

Reporting by Karin Strohecker