No holding back in buzzing EM as all trades fly

By Mariam Meskin, Oliver West
07 Jan 2021

Emerging markets issuers of all flavours ignored convention and stormed into primary bond markets this week, with great success. Renewed warnings about increasing debt ratios in emerging nations were no match for an extraordinarily supportive technical picture as investors piled into deals — even as Democratic victories in US Senate run-offs pushed rates higher. Mariam Meskin and Oliver West report.

Mexico reopening EM primary markets, as it did on Monday, is a well-established tradition. But its decision to tap the Formosa market for the first time ever on the first business day of the year was a sign that EM borrowers are not afraid to try new things ...

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