With Crises Shaking Confidence in U.S. and Europe, Investors Turn to Debt of Emerging Lands
The black-and-white borders of the bond market are graying.
As the pristine credit rating of the U.S. remains under threat, and the debt crisis in Europe rolls on, investors, traders and policy makers are grappling with fundamental changes in the global bond markets.
Many so-called emerging countries, which have typically been charged higher interest rates because of their perceived risk, are now paying as little to borrow as developed nations, if not less.
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