Emerging-Market Bondholders Recoup Losses From Financial Crisis
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Emerging-market bond investors recovered their losses from the worst financial crisis since the Great Depression as a rally in debt from Argentina to Ukraine pushed JPMorgan Chase & Co.’s benchmark index to a record.
The EMBI+ Index, which tracks total returns on the foreign-currency debt of developing nations, has soared 43 percent from its 2008 low to 445.35 today, the highest since the index began in December 1993. JPMorgan’s gauge had dropped to as low as