Debt Boom That Put JPMorgan on Top After Decade Gathers Pace
- Emerging-market rush prompts 4 revisions to JPMorgan forecasts
- Oil crisis sends Gulf nations to bond market as deficits swell
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Propelled to the top of emerging-market bond league tables for the first time in a decade by a Middle Eastern borrowing binge, JPMorgan Chase & Co. now sees Europe’s deepening political crisis stoking record issuance into next year.
Governments in developing countries will probably raise more than $120 billion on global debt markets in 2017 following a similar volume this year, Stefan Weiler, JPMorgan’s head of debt capital markets for central and eastern Europe, the Middle East and Africa, said in an interview.