Countries and companies in the developing world are rushing to sell bonds at the fastest clip in at least a decade, taking advantage of high appetite for emerging-market assets to issue debt amid what investors say could be sharper swings ahead in global debt markets.
Last week’s more than $27 billion bond deluge included deals from Saudi Arabia, Turkey’s sovereign wealth fund and Brazilian oil giant Petrobras. The demand is such that JPMorgan strategists raised their forecasts for EM sovereign debt issuance, now expecting a record year for the asset class.