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المشهد العربي
Emerging Market Borrowing Costs Fall to 7-Month Low
The cost of borrowing for companies in emerging markets denominated in dollars has experienced a significant decline, reaching its lowest level in seven months. This is due to increased demand for high-yield fixed-income bonds. The yield on the Bloomberg index for emerging market corporate bonds fell by 19 basis points over the month, amid gains in energy sector bonds that benefited from the closing of the Strait of Hormuz and improved negotiations on restructuring distressed company debts. Additionally, the spread between corporate bond yields and U.S. equities narrowed to its lowest level since January, with U.S. bond yields dropping by only two basis points, while bonds from China VanKe achieved record gains of 30% since the end of June.
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