What in God’s name is happening?
It’s not a high.
It’s a record high.
Sweet mother of Mary…
As we can see from the above chart courtesy of the FT, emerging markets sold a record amount of government debt in the first quarter of this year.
More from the FT here:
“Data from Dealogic, a research firm, show that sovereign bond sales from emerging markets rose to $69.6bn in the first three months of the year, an increase of 48 per cent from a year ago and a record amount for a single quarter. Corporate bond sales by companies in developing countries also surged, rising 135 per cent year on year in the first quarter to $105bn, according to Bloomberg data.”