EM primary thrives but rates fears simmering

Panama City, storm, trouble, clouds, outlook, LatAm, 575
By Mariam Meskin, Oliver West
21 Jan 2021

Emerging markets issuers across CEEMEA and Latin America once again triumphed in primary bond markets this week, with several sovereigns and corporates notching record low costs of funding. But there are signs that the direction of US rates is playing on investors’ minds, write Mariam Meskin and Oliver West.

This year has so far proved to be a golden one for EM bond issuance. In CEEMEA, Turkey and Bahrain this week proved that investors are hungry as ever for the asset class. Bahrain, rated B+/B+ by S&P and Fitch, sold $2bn of bonds on Wednesday, nabbing ...

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