Debut Honduran Bonds Rally as Polls Show Tighter Election
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Honduras’s debut global bonds are heading for their best monthly performance as polls show the ruling party fending off an election challenge from the wife of deposed former President Manuel Zelaya.
Yields on Honduras’s dollar bonds sold in March and due in 2024 have fallen 84 basis points, or 0.84 percentage point, this month to 9.23 percent after reaching a record 10.77 percent in September. Honduran securities returned 6.8 percent in October, outperforming the 2.8 percent average for emerging markets, according to JPMorgan Chase & Co.’s EMBIG index.