Meltdowns Hiding in Plain Sight Burn Emerging-Market Buyers
- Bolivia, Ecuador bonds were at highest in months in early 2023
- Prices have collapsed on political and economic turmoil
This article is for subscribers only.
As investors sorted through emerging markets at the start of the year on the lookout for potential disasters, Bolivia and Ecuador were low on their list of worries.
Despite their rocky political histories and tendency for social unrest, the Andean nations appeared stable. Their bonds were priced at the highest levels in months in January after getting a lift from the emerging-market exuberance that began the year.