Emerging Market Debt Sales Plunge Amid Ukraine War, Rising Rates
- Developing-nation April issuance fell to lowest in 10 years
- Surging yields are deterring emerging market issuers
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Emerging-market debt sales slumped to their lowest level for the month of April in a decade as war in Ukraine and the global march higher for interest rates deterred borrowers.
Developing-nation governments and companies raised $30.6 billion of bonds in dollars or euros in April, a 48% decline from the same month a year ago, according to data compiled by Bloomberg. Issuance for the period dropped to its lowest level since 2012.