It's Only Been Two Months, But Angola Leader's a Bond-Market Hit
- Eurobonds return 8% since President Lourenco was sworn in
- Emerging-market bonds returned an average 0.3% in the period
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He’s only led Angola for a couple of months, but bond investors already like what they’ve seen from Joao Lourenco.
Angola’s $1.5 billion of bonds due in 2025 have returned 8 percent since Lourenco was sworn in as president on Sept. 26, replacing Jose Eduardo dos Santos, who had ruled the OPEC member and former Portuguese colony since 1979. That’s a better performance than any other country in the Bloomberg Barclays Emerging Markets USD Sovereign Bond Index, which includes debt from more than 70 nations.