The Euro Has Never Been This Popular With Emerging-Market Borrowers
- Sovereign issuance in shared currency jumps 80% in 2019
- Lower yields relative to dollar bonds attract governments
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The euro’s popularity as a borrowing currency is surging in emerging markets, with annual sales of government bonds crossing the 50-billion mark for the first time ever.
Sovereign issuers have raised 51.2 billion euros ($56.4 billion) so far in 2019, according to data compiled by Bloomberg. With seven weeks to go before year-end, that already beats the previous record of 39.9 billion euros collected over the whole of 2016.