EM debt starts second quarter on firm footing; Turkey, Ukraine notes add

By Rebecca Melvin

New York, April 1 – Emerging-markets debt was buoyed on the first day of the second quarter as encouraging manufacturing data from China encouraged the broader markets on Monday.

The stronger Chinese manufacturing numbers, which hit a low last month, point to stabilization of global economic growth rather than further deterioration.

U.S. stocks and bond yields rose, with the yield on the benchmark 10-year Treasury notes stepping up to 2.496% from 2.416% on Friday, its biggest one-day rise since January.

The international bonds of Turkey and Ukraine were higher on the heels of mayoral elections for Turkey and a presidential ballot in Ukraine.

Also, on Monday, the United Mexican States announced plans to price dual tranches of euro-denominated global notes of seven and 20-year duration.

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