BIS Quarterly Review, March 2006

The Bank for International Settlements published its March 2006 Quarterly Review on Monday. A surge higher in the value of emerging market assets can be attributed to more than simply better economic fundamentals, the report said.

"Available data suggest that foreign investors continued to channel substantial amounts to emerging markets in the early part of 2006," the report said.

But the Switzerland-based bank warned that all the while, weighted credit ratings across the emerging market spectrum

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