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And don't miss Marcus Ashworth on the lessons of Tajikistan's bond-market foray: "That this debt deal is even feasible, for what is not even a frontier country credit, is a clear illustration of the risks now acceptable to emerging market investors -- the yields that investors might clinch with this one aren't too far off from what's been seen in recent deals. This is a sign more of the frothiness of the credit markets than the relative merits of Tajikistan."
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