EM Succumbs to Sub-Zero Epidemic as Debt Pile Doubles in a Week
- Bonds that yield less than 0% climb to $246 billion, data show
- Hunt for returns boosts demand for emerging-market securities
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A sinkhole of negative-yielding debt in emerging markets has doubled in size over the past week. This time last year it was non-existent.
The amount outstanding soared to $246 billion, driven mostly by the growing pile of corporate debt with sub-zero rates, which almost tripled in seven days, according to data compiled by Bloomberg.