Local currency the flavour of the month as CEEMEA racks up busiest ever Jan

Investor desperation for yield, coupled with a jump in appetite for emerging market risk, is driving increasing demand for local currency bonds. Turkey’s Akbank this week became the first name to issue a Eurolira bond, with bankers pointing to a surge in EM local currency bond fund flows as likely to support more such activity throughout the year, writes Francesca Young.