Ukraine to Iraq Fail to Dent Record Emerging Bond Sales - Bloomberg:
"Political crises from Ukraine to Iraq have failed to stop emerging-market issuers from selling bonds at an unprecedented pace this year as investors shift their focus to Asia and Latin America.
Borrowers from developing nations have sold $800 billion of bonds in 2014, the most on record for the period and up 12 percent from the same time last year, according to data compiled by Bloomberg. Asia-Pacific offerings surged 22 percent. Sales in emerging Europe, the Middle East and Africa had the poorest showing since 2011 as the U.S. launched airstrikes against Islamic militants in Iraq and imposed sanctions on Russia for its backing of separatists in Ukraine.
“Investors haven’t pulled out of emerging markets, but reallocated away from the Russia-Ukraine risk,” Michael Ganske, the head of emerging markets at Rogge Global Partners Plc in London, said by e-mail today. “In a fixed-income world with historical low yields, investors are looking for carry, and risk premia in emerging markets seem attractive.”"
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