EM sovereign bond issuance in October was the second highest month this year

  • EM hard currency sovereign bond issuance surged to US$11bn in October, albeit this was mostly due to KSA

  • It brings total issuance to US$79bn ytd, still only half the amount seen in the same period last year

  • Challenging EM financing conditions saw yields rise to over 9% before easing, with the total return flat on the month
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