The negotiated volumes of debt of emerging markets amounted to Au $ 6,116 billion in 2024, which represents a 9% increase compared to the previous year. According to the data collected, transactions with emerging bonds rose 15% year -on -year AU $ S1,409 billion exceeding the annual mark registered in 2023 (US $ 5,592 billion) and 10% less than in the previous four -month period (US $ 1,562 billion). While the figures are very dissimilar, it is worth noting that At the level of operations with Eurobones, Argentina 2025 and 2030 were the most negotiated among emerging specialists.
The data arises from the last report published by the Emerging Market Traders Association (EMTA), from a survey in the fourth quarter of 2024.
EMTA’s information shows that the volume of negotiation in local markets instruments amounted to Au $ S4,192 billion in 2024, which represents 69% of the total volume reported (this is compared to US $ 3,851 billion in 2023, which is a 9% increase). In this regard, they emphasize that The Mexican instruments were the most negotiated in local debt markets in 2024, with US $ 1,479 billion followed by China (US $ 515,000 million), Brazil (US $ 495,000 million), India (US $ 394,000 million) and South Africa (US $ 192,000 million).
Regarding the volume of Eurobones operations The data show that it was at US $1,919 billion in 2024, which is 12% more compared to the US $1,716 billion of 2023. 71% of the Eurobones activity involved sovereign debt emissions in 2024, and the survey participants reported a sovereign Eurobons of US $ S1,366 billion (compared to a 68% participation of the Eurobones activity in the previous year, when said volumes amounted to $ 1,163 billion).
Eurobones: Argentine titles expiring in 2035 and 2030, more chosen
While Corporate transactions with Eurobons amounted to $ S545,000 million in 2024which represents 28% of the total activity of Eurobones (compared to a 32% participation in 2023). For its part, the activity of sovereign Eurobons represented 22% of the total volume of the survey, and corporate transactions 9% of the total turnover. “The most negotiated Eurobons in 2024 were the bonds called Argentina’s dollars with expiration in 2035 and 2030 (with a volume of business of US $ 23,000 million YU $ S15,000 million, respectively)followed by the 2054 Bonus of Saudi Arabia (US $ 13,000 million), the 2036 Bonus of Mexico (US $ 11,000 million) and the 2034 Bonus of Saudi Arabia (US $ 11,000 million) ”, according to the participants of the Emta survey.
In addition to the local market bonds and sovereign and corporate Eurobons, the study also includes the rotation of warrants, options and loans: the survey participants reported US $ 3,000 million in Warrants and Options during the year YU $ 2,000 million in loan assignments.
Mexican instruments were the most negotiated instruments in generalaccording to the participants of the survey, with a business volume of U $ S1,638 billion, compared to the US $ 1,241 billion reported in 2023 (a 32%increase). Mexican volumes represented 27% of the total volume.
Globally, The Brazilian instruments were the second most negotiated instruments in the EMTA report, with US $ 580,000 millionaccording to the participants of the survey. This represents a 33% decrease compared to US $ 864,000 million reported in 2023. Brazilian volumes represented 10% of the total reported volumes.
Thirdly, Chinese assets were located, whose volume amounted to $ S569,000 millionwhich compares to US $ 465,000 million in 2023 (increased 22%). Transactions with Chinese instruments represented 9% of the survey volume.
Other instruments negotiated were often the debt instruments of India (US $ 430,000 million) and South Africa (US $231,000 million).
It should be remembered that the EMTA survey includes negotiation volumes in debt instruments from more than 90 emerging market countries, as reported by 29 investment banks and commercial asset management companies and leading coverage funds.
Source: Ambito
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