Saturday 20 July 2013

FINANCE - Bonds of Turkish banks among worst performers in debt market

FINANCE - Bonds of Turkish banks among worst performers in debt market:

"Bonds of Turkish banks, Ukrainian state firms and central European miners were among the worst performers in a recent sell-off in emerging debt and investors are on alert for further price falls or even defaults.

The emerging corporate debt market has boomed in recent years, with the volume of outstanding debt passing $1 trillion last year and record issuance seen in the first half of 2013.

But spreads on emerging corporate bonds in hard currencies have widened sharply over rising U.S. Treasury yields in the past few weeks, after the Federal Reserve said it will scale back stimulus which has fed demand for higher-yielding assets."

'via Blog this'

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