Emerging market sovereign bond issuance picks up as Taper Tantrum risks subside

  • EM hard currency sovereign bond issuance reached US$16.0bn in April, continuing its recovery after a soft few months

  • Issuance has amounted to US$78.1bn YTD, although that is still 6% below the same period last year

  • HY issuance, from just three countries (Georgia, Maldives, Ukraine), the lowest since Aug 2020, although HY led returns
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