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المشهد العربي
Emerging Markets Debt Nears $200B
Emerging markets' debt markets experienced unprecedented growth, with government issuances reaching around $190 billion during the first eight months of the year. This trend continued into the last eight months, pushing total issuance to approximately $200 billion, despite rising global interest rates, a strengthening dollar, and geopolitical challenges. This performance occurred even though the yield on the 10-year U.S. Treasury bonds reached about 5%, with expectations of three more rate hikes by mid-next year. Additionally, the spread between emerging market bonds and U.S. bonds fell to a low of 2.2 percentage points, down from 2.6 points a year earlier.
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