LONDON: Labelled the emerging market “toxic trio” until not so long ago, the high-yielding bonds of Ukraine, Argentina and Venezuela have come up smelling of roses for those who were brave enough to buy into them at the start of the year.
Ukraine's debt restructuring, pro-business Maurico Macri’s election win in Argentina and hopes Venezuela will see something similar on Sunday, have seen a dramatic turnaround in investors’ attitude towards all three countries.
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