Three of my takeaways from this Financial Times reporting (attached) on record bond issuance by emerging economies:
It adds at the margin to pressures on global bond yields, even though the overall issuance volumes remain significantly smaller than those coming from advanced economies and tech companies.
It has been impacted by atypical issuance from Gulf Cooperation Council (GCC) countries as they work to re-equip and expand their energy supply and infrastructure networks.
It also reflects a healthy appetite among investors, bolstered by the multi-year reforms that many, though not all, emerging economies have pursued to strengthen their economic and financial fundamentals.
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