Emerging market bonds have had their best start to the year on record as new issuance has surged and interest rate premiums over US Treasuries have narrowed to their lowest since 2008.
Sovereign bond markets in developing countries have seen a record $129bn in new deals so far this year, a 42 per cent increase over the same period last year, the previous record for issuance, according to Dealogic.
Bond yields, which have been tightening since March last year, have narrowed further in the past two weeks as the success of Greece's new debt offering at the start of the month stabilised markets.
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