Emerging markets stay strong under pressure

Debt capital market issuance from the emerging markets hit a record $661 billion in 2009, according to Dealogic. Aside from representing a 61% increase on the previous year’s total, the activity confirmed the transition of the asset class into the mainstream for bond investors. It wasn’t just new issuance on the rise, either. After the flight to quality that characterised 2008, risk appetite returned with a vengeance in 2009, with emerging market bond funds prime beneficiaries. Eq