TRKNY - Emerging Markets: U.S. Dollar Bonds Abound
Sovereign and Corporate Debt Deluge with Fed's Tightening Policy on Pause
Issuers of U.S. dollar-denominated government and corporate bonds based in certain emerging market countries have been generally taking advantage of the ultra-low interest rate landscape to sell new deals.
To date in February, the governments of Uzbekistan, Turkey, Indonesia and Egypt, for example, have each contributed to the recent rise in the volume of primary market sales, while the Federal Reserve appears to have shifted gears to a more dovish stance on monetary policy.
The Federal Open Market Committee (FOMC), the Fed’s policy-making body,