Fed surprise blasts market open for EM

Emerging market bond supply had an explosive end to the week thanks to the US Federal Reserve, which lit the fuse by delaying a reduction of its quantitative easing policy, to the surprise of many market participants. The move unleashed a surge of bond issuance across CEEMEA and Latin America, which bankers expect to be just the start of a race to take advantage of reduced funding costs, write Francesca Young and Steven Gilmore.