Emerging market sovereign bond issuance picks up as Taper Tantrum risks subside
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EM hard currency sovereign bond issuance reached US$16.0bn in April, continuing its recovery after a soft few months
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Issuance has amounted to US$78.1bn YTD, although that is still 6% below the same period last year
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HY issuance, from just three countries (Georgia, Maldives, Ukraine), the lowest since Aug 2020, although HY led returns
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This report is independent investment research as contemplated by COBS 12.2 of the FCA Handbook and is a research recommendation under COBS 12.4 of the FCA Handbook. Where it is not technically a research recommendation because the subject of the research is not listed on any European exchange, it has nevertheless been treated as a research recommendation to ensure consistent treatment of all Tellimer's research. This report has been produced by the analyst(s) named above (the "Analyst").
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