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Philippines, Turkey Bond Demand Exceeds Offers; Yields Reach 19-Month Low

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WELL, SOMEONE'S BUYING
"The Philippines received more than $3 billion of orders for a planned bond sale and Turkey got more than triple the $2 billion it offered as confidence in emerging markets drove yields to the lowest in 19 months," according to Bloomberg. "The extra yield investors demand over U.S. Treasuries to own emerging- market bonds dropped 5 basis points to 2.69 percentage points, the lowest spread since June 2008, according to JPMorgan Chase & Co.’s EMBI+ Emerging Markets Bond Index."
SOURCE:   Bloomberg

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