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.
Emerging market corporates lead government issues
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.