Yield Stampede Sends Emerging Bond Flows to Fresh Record: Chart

Money flowed into emerging-market debt at the fastest pace on record during the week through July 20 as investors sought respite from almost $12 trillion of government debt paying out negative rates, bond-flow data from EPFR Global show. The average yield on developing-nation debt has fallen more than 1 percentage point since reaching this year’s high of 5.5 percent on Jan. 20, according to the Bloomberg USD Emerging Market Sovereign Bond Index.

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