Ukrainian corporate bonds yielding at least double emerging-market peers are luring investors from Landesbank Berlin Investment GmbH to Otkritie Capital on speculation the selloff triggered by street protests will fade.
Europe’s banks may be on the point of a turnaround as economic growth returns to the continent and the European Central Bank prepares to review the industry’s assets, Citigroup Inc. and Morgan Stanley said.
South Korea’s three-year bond yield retreated from a five-month high and the won was steady as investors waited for clues on when the U.S. will start to trim stimulus that has inflated emerging-market asset prices.
A gauge of U.S. company credit risk was little changed. Johnson & Johnson, the AAA rated maker of health-care products from Band-Aids to Listerine, sold $3.5 billion of bonds in its first offering since 2011.
Atlantic City’s borrowing costs have risen as much as 21 percent since 2012 as the New Jersey gambling resort increases debt to refund property-tax bills appealed by casinos struggling with a seven-year business slump.
A gauge of U.S. company credit risk held at about a six-year low after declining for a third month. Credit-default swaps tied to J.C. Penney Co. declined to the lowest level since September as the holiday shopping season got under way.
The forint weakened the most among emerging-market peers versus the euro, set for the biggest monthly drop in eight, on speculation Hungary’s continued monetary easing will erode its premium over less risky assets.