Macro Analysis /
Global

EM sovereign bond issuance fell 15% in 2021; rising US yields story so far ytd

  • EM hard currency sovereign bond issuance fell 15% last year to US$173bn, although still second highest amount on record

  • Issuance stalled in the final month of the year, at just US$0.4bn, the lowest monthly amount since the pandemic

  • Rising US bond yields (+25bps ytd) is the story so far this year, which could dent issuance in the near term

EM sovereign bond issuance fell 15% in 2021; rising US yields story so far ytd
Stuart Culverhouse
Stuart Culverhouse

Head of Sovereign & Fixed Income Research

Tellimer Research
11 January 2022
Published by