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Though many other parts of the primary bond market seem to have fired the starting gun for autumn issuance, the emerging markets are yet to join them. But there is plenty of difficulty to contend with for those invested in Latin America.

The Republic of Mozambique has released a consent solicitation for its outstanding $726.5m 10.5% 2023s, which a bondholder group representing 68% of the notes has said they will accept, hoping that this will draw a line under the Ematum tuna bonds saga that has plagued the country since their issue in 2013.

International investors are divided over whether to put more money to work in the Russian domestic bond market after the latest round of US sanctions against the Russian sovereign.

EM investors have had a gut wrenching week as a barrage of bad news — some within the emerging markets and some external to them — chipped away or in some cases annihilated their year’s returns so far. But though some fund managers said that they now fear a further widespread sell-off in EM assets similar to the second half of 2018, syndicate bankers said that there is a queue of issuers ready, waiting and expecting to be able to tap the international bond markets imminently.

Emerging market fund managers have been steeling themselves for disastrous outflow data as geopolitical events shook the asset class and EM currencies. But numbers from EFPR Global suggest the exodus has been somewhat benign, with even one day of inflows.

Ukrainian energy company DTEK is struggling to halt a slide in its bond trading since the National Anti-Corruption Bureau of Ukraine (NABU) issued notices of suspicion to six individuals — two of whom are DTEK employees — involved in a coal pricing controversy. The bonds have lost around five points in the space of a week.

US President Donald Trump’s delay to some tariffs on Chinese imports helped to soothe the nerves in emerging market bonds on Tuesday, but the fledgling optimism was soon stamped on by disappointing German data.

EM investors are nervous at the prospect of history repeating itself and the end of this year playing out similarly to 2018, when Argentina and Turkey crises set light to a widespread fire sale across most of the asset class.

Poland's Bank Pekao is planning to tap the Eurobond market for the first time in 2020, in order to set down a senior benchmark for the subsequent issuance of capital ratio raising bonds, according to Pawel Rzezniczak, head of investor relations and corporate development at the bank.

Bankers and investors have expressed their irritation at the US's new set of sanctions on Russia. The latest punitive actions stop US financial institutions from extending debt financing in the primary market to the sovereign.

EM investors are calling the US Treasury’s latest round of sanctions — this time on Russian sovereign debt — confusing and knowingly ineffective.

Ready and willing equity investors are facing another year of frustration in Russia, with the country's IPO activity set to underwhelm until 2020.