Emerging market borrowers sold bonds worth more than 260 billion dollars in the first half of 2014 in excess of levels a year ago despite geopolitical unrest and accelerate with the borrowers to take advantage of lower than expected revenues of U.S. bonds.
Faced bond market denominated in hard currency troubles because of the crisis and the sharp decline of the Ukrainian in the Russian bond sales. However, the decline in U.S. bond yields for ten years - a measure of the most emerging market bonds - by 50 basis points outweighed the impact of geopolitical risks.
As a result, came a powerful versions and some analysts suggested that governments and companies already completed two-thirds of versions expected for the whole year.
Data from Thomson Reuters that by Friday, the value of bond sales since the beginning of the year up to $ 268 billion, including governments share to 67 billion dollars, while companies collected the rest. Compared issues amounted to 240 billion dollars a year ago, including governments sold 50 billion dollars, according to the data.
And U.S. bond yields fell this year in contrast to the expected 2.5 percent from three percent at the end of 2013 because of the relatively weak U.S. data and the policy of the Federal Reserve (the U.S. central bank), which tend to monetary easing.
But it is expected that the Fed starts to raise interest rates in the second half of 2015 and therefore seeks vendors bonds to take advantage of the market by rising borrowing costs.
Estimates of Bank of America Merrill Lynch to the arrival of bond sales since the beginning of the year to 258 billion dollars, while expected good. JPMorgan exceeded the value of sovereign bond issues of $ 60 billion, equivalent to two-thirds of the expected levels for the whole year. J. said. JPMorgan companies that sold more than $ 200 billion dollars.
Often differ because of the different versions data standards define emerging markets.
Although the density versions were hard currency bonds in emerging markets, one of the best performing asset classes in 2014, with the arrival of return on sovereign bonds to more than nine percent.
And Russian companies are generally issued bonds in bulk, but the conflict in Ukraine and the West threatened to impose sanctions because of Moscow's annexation of the Crimea led to the reluctance on the market since the end of February.
Data showed Thomson Reuters that the total value of Russia's bonds have reached seven billion dollars just this year after more than 25 billion dollars in the first half of 2013., However, with the repayment of the debt by about 150 billion dollars due in 2014, companies began to return to the market and sold Sberbank and Gazprom Bank bonds last week.
And turning borrowers Russians, like many of their counterparts in emerging markets to the markets of euro-denominated bonds, which dropped its borrowing costs by facilitating the ECB's monetary policy.
And borrowed issuers in emerging markets 42.1 billion euros (57.4 billion dollars), or 21 percent of the total, compared with versions 40 billion euros in 2013 as a whole.
(Dollar = 0.7331 euros)
Faced bond market denominated in hard currency troubles because of the crisis and the sharp decline of the Ukrainian in the Russian bond sales. However, the decline in U.S. bond yields for ten years - a measure of the most emerging market bonds - by 50 basis points outweighed the impact of geopolitical risks.
As a result, came a powerful versions and some analysts suggested that governments and companies already completed two-thirds of versions expected for the whole year.
Data from Thomson Reuters that by Friday, the value of bond sales since the beginning of the year up to $ 268 billion, including governments share to 67 billion dollars, while companies collected the rest. Compared issues amounted to 240 billion dollars a year ago, including governments sold 50 billion dollars, according to the data.
And U.S. bond yields fell this year in contrast to the expected 2.5 percent from three percent at the end of 2013 because of the relatively weak U.S. data and the policy of the Federal Reserve (the U.S. central bank), which tend to monetary easing.
But it is expected that the Fed starts to raise interest rates in the second half of 2015 and therefore seeks vendors bonds to take advantage of the market by rising borrowing costs.
Estimates of Bank of America Merrill Lynch to the arrival of bond sales since the beginning of the year to 258 billion dollars, while expected good. JPMorgan exceeded the value of sovereign bond issues of $ 60 billion, equivalent to two-thirds of the expected levels for the whole year. J. said. JPMorgan companies that sold more than $ 200 billion dollars.
Often differ because of the different versions data standards define emerging markets.
Although the density versions were hard currency bonds in emerging markets, one of the best performing asset classes in 2014, with the arrival of return on sovereign bonds to more than nine percent.
And Russian companies are generally issued bonds in bulk, but the conflict in Ukraine and the West threatened to impose sanctions because of Moscow's annexation of the Crimea led to the reluctance on the market since the end of February.
Data showed Thomson Reuters that the total value of Russia's bonds have reached seven billion dollars just this year after more than 25 billion dollars in the first half of 2013., However, with the repayment of the debt by about 150 billion dollars due in 2014, companies began to return to the market and sold Sberbank and Gazprom Bank bonds last week.
And turning borrowers Russians, like many of their counterparts in emerging markets to the markets of euro-denominated bonds, which dropped its borrowing costs by facilitating the ECB's monetary policy.
And borrowed issuers in emerging markets 42.1 billion euros (57.4 billion dollars), or 21 percent of the total, compared with versions 40 billion euros in 2013 as a whole.
(Dollar = 0.7331 euros)
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