Emerging market first-quarter bond issuance volumes have slumped to their lowest levels in four years, and the prospects for the asset class remain bleak after an industry lobby group gave a stark warning of the risks that rising US Treasury rates pose to issuers. Asian emerging market issuers propped up the muted volumes in the first three months of 2015 to print US$52.3bn-equivalent of hard currency bonds, compared with US$31.8bn in Latin America and US$35.4bn in Central and Eastern Europe, Middle East and Africa, according to Thomson Reuters.
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