Aug
23
Mongolia, Anyone? Junkiest Sovereign Debt Pays Less Than 6%
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Yields of CCC-rated countries drop amid hunt for returns
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Investors pushed down risk scale to Mongolia, Ukraine, Belarus
As recently as 1999, investors seeking a 6 percent yield on a government bond could have bought 10-year U.S. Treasuries. These days they can’t even get that from Mongolia.
Central-bank bond buying has compressed yields in developed markets to unprecedented levels, pushing investors further down the risk spectrum in a hunt for higher returns. Yields on Mongolian dollar bonds maturing in 2021 fell below 6 percent for the first time on record late last month after dropping 3.5 percentage points this year…
Mongolia, Anyone? Junkiest Sovereign Debt Pays Less Than 6%
