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Emerging market corporates lead government issues

Corporate issuers from emerging market countries have been active so far in 2017, issuing $1.21 trillion. Comparatively, emerging market governments have issued $1.15 trillion since the start of the year.

Corporate issues made up the majority of emerging markets debt issues during the first quarter for the first time since the first quarter of 2012, and for only the second time in the past 10 years.

Year-to-date, the Bloomberg Barclays Emerging Market Aggregate index has returned 3.57% through April 7. The yield on the aggregate index has declined to 4.7% from 5% since the start of the year. The corresponding corporate and government indexes have returned 3.15% and 4.14%, respectively.