Emerging-market debt issuance on ice after turbulent summer | Reuters

Emerging-market debt issuance on ice after turbulent summer | Reuters:

Emerging-market debt issuance is on hold after a summer of volatility, with the market effectively closed for borrowers like Turkey and Russia, although Asian and Middle East issuers can still get their bonds to market.

Bond sales usually rebound in September after a quiet August, but this year currency crises in Turkey and Argentina and worries about rising U.S. sanctions risk for Russia have kept volumes dramatically lower.

“Emerging markets had a rough time, and we have seen the effects of that when it comes to debt issuance - the pipeline is pretty empty,” said one senior debt capital markets banker, who declined to be named.