Emerging markets forex offering opportunities all the way from local debt to relative value trades

The emerging markets continue to provide access to the kind of volatility not seen in developed markets since financial markets started to become commoditised in the 1970s and 1980s, but there remains a number of ways to either exploit or analyse these markets.

Take a lesson in emerging markets from UBS and the analysis could confine your interest to only corporate bonds issued in emerging markets' countries and currencies, at least at the moment. "The good news in emerging markets is that the macro balance sheets are solid," says Bhanu Baweja, managing director, global head, emerging markets, fixed income and foreign exchange strategy at UBS in London."[And that is] because emerging markets had their own crises and de-levered at the end of the 1990s."