EM execution still solid but defensive tone creeps into deal flow

Christin Knospe ck-photos.de/Christian Knospe - stock.adobe.com

Emerging market bond deals are rattling out this week, with Naftogaz and Serbia both having printed tight deals and sukuk issuers also busy. But the mix of business is becoming more defensive as investors eye year end. Meanwhile in Latin America, technical conditions are very strong, despite a wave of unrest.