Stars Align for Emerging-Market Debt as Ebbing Sales Stoke Rally
- Emerging-market Eurobond issuance fell 14 percent in February
- Bond scarcity will help support market, Eaton Vance says
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Bond bulls in the developing world could hardly have asked for a better start to the year.
A fiery rally in hard-currency debt that built up steam in January got a boost in February as bond sales in emerging markets dwindled, propelling the longest stretch of monthly advances in over a year and handing investors a 3.8 percent gain so far in 2019, according to Bloomberg Barclays indexes.