The 10%-ers: Number of high-yield sovereigns stands at series high
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We count 27 countries with sovereign US$ bonds yielding more than 10% or that are in default
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This is easily a series high and double the amount we saw in December 2021 due to twin external shocks of war and rates
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Of these, 22 countries yield over 10% while Sri Lanka joins those in default (Lebanon, Suriname, Venezuela, Zambia)
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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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