MTN EM heat cools thanks to higher rates

Doubts over the future of MTN issuance in emerging markets currencies have emerged after geopolitical events caused the Turkish lira to hit record lows against the dollar and the 10 year US Treasury yield hit 3%.

  • By Nell Mackenzie
  • 10 May 2018

Bankers were divided over whether wobbles this week in the international currencies would filter down to how MTNs were issued, but agreed that the liquidity in these currencies might not continue. 

“We still have loads of cash swilling around looking for a return,” said a head of syndicate, but ...

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