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Emerging Markets

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Two of Bulgaria's credit ratings now have positive outlooks
Some of last week's sovereign trades suffering on secondary
FIG
Meanwhile, LatAm sovereign announces mandate for a multi-tranche deal that could come next week

Data

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  • Telefónica Celular del Paraguay (TeleCel), the Paraguayan subsidiary of pan-EM telecoms group Millicom International Cellular, returned to bond markets for the first time in over six years on Thursday.
  • Foreign investors and issuers are facing big hurdles in navigating China’s Rmb87tr ($12tr) bond market, and the even more complicated regulatory network around it. But the situation is improving and both sides still have plenty to learn from each other. Rebecca Feng reports.
  • India's capital markets started 2019 with much more vigour than they ended 2018, but a looming election is set to apply the brakes. Will the contest derail issuance for much of the year or be little more than a temporary blip? Bankers tell Morgan Davis they are optimistic
  • There are various factors holding Vietnam back from its bid to win MSCI emerging market status, including a cap on foreign ownership and a lack of transparency. But the progress the market has made should not be underestimated. Jonathan Breen reports
  • Pakistan walks a fine line between emerging market and frontier. It is clinging on to its hard won status, reports Morgan Davis
  • Chinese property companies dominate Asia’s high yield bond market like never before. But rising volumes bring rising risks — and maturities are looming. Addison Gong reports