The 10%-ers: Number of high-yield sovereigns stands at series high

  • We count 27 countries with sovereign US$ bonds yielding more than 10% or that are in default

  • This is easily a series high and double the amount we saw in December 2021 due to twin external shocks of war and rates

  • Of these, 22 countries yield over 10% while Sri Lanka joins those in default (Lebanon, Suriname, Venezuela, Zambia)

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