Russia issued bonds for the first time since defaulting on its debt in 1998. It recently sold 10-year bonds at a yield of 5%. The next bubble may be in emerging market debt; a record $24 billion has already been issued this year. The Wall Street Journal published this diagram today.
2 comments:
Deborah:
Interesting post. Is there a way to short these bonds using a liquid instrument? I remember 1997-98 well.
Let me know if you find a way to short ALL emerging market bonds!
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