Oh, East is East and West is West, and never the twain shall meet...
Mongolia is the new Zambia.
Back in September, Zambia snagged the market’s attention when it managed to issue 10-year bonds at a price only slightly above Spain’s borrowing costs.Previously:
Wednesday, Mongolia is in the spotlight, as it sells dollar bonds, tentatively nicknamed Genghis Bonds, with borrowing costs that look set be cheaper than Spain’s. The central Asian state said it wants to sell its 10-year bond at a yield of up to 5.25%. For the five-year tranche, it is aiming at up to 4.25%.
For a comparison, outstanding 10-year bonds from Spain, the fourth-largest economy in the euro area, yield about 5.4%. The country paid a little more than that in a 10-year auction in October....MORE
Top Global Stocks of 2007
How the heck did I miss Mongolia Energy Co. Ltd.?
"Mongolian city to be cooled by giant ice cube"
Khan Resources jumps 20% despite Mongolian riots
"Mongolia: the world’s hottest stockmarket"
We've been on the Mongolia beat for a while now.*...
"Mining hordes invade Mongolia, the 'Kuwait of Central Asia'" and "Hong Kong a good market for Mongolian IPOs"
YES!!! "Van Eck Plans Mongolia Equities ETF"