Emerging market bond issuance has risen to record levels as investors hungry for greater risk switch to the securities because of attractive yields.
The surge in issuance this year, to its highest point since records began in 1962, is an encouraging sign for the world economy as activity in emerging market bonds had seized up until a few months ago.
The bond market freeze had made it difficult for governments and companies, especially those in eastern Europe hit by the credit crunch and needing to refinance debt.
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