Slim pickings in CEEMEA as market rues the deal wave that never came

Bond market graph volatility from Adobe 22May20 575x375
By Mariam Meskin
30 Mar 2021

Volatility in the US Treasury market has been the thorn in emerging market bond issuers' sides this quarter. Though bankers had expected borrowers front-load issuance, concerns about global interest rates and investor appetite have dulled volumes.

As of Tuesday morning, volatility in the US Treasury market had hit fresh highs. The 10 year Treasury was yielding 1.767% — the highest it has been since last January, having started 2021 at 0.93%.

The rising yields have meant that the large volume of new supply predicted for the first quarter ...

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