The five-year bonds, which were sold with an interest rate of 4.125%, traded for a yield of 4.68% Wednesday, a substantial sign of weakness, according to an investment banker familiar with the deal. Yields move in the opposite direction of bond prices. The 10-year bonds, sold to yield 5.125%, yielded 5.62% on Wednesday.
据一位了解这宗交易的投资银行家说,五年期债券的利率为4.125%,周三的收益率为4.68%,明显地显示出行情的低迷。债券的收益率与价格反向而动。10年期债券的利率为5.125%,周三的收益率为5.62%。
The bond sale had been a bit of good news after a number of economic hits to the country, until recently one of the hottest frontier markets.
在蒙古国经历了多重经济打击后,此次发债可算是一个好消息。直到不久前,该国一直是最受热捧的前沿市场之一。
High inflation, profligate government spending, uncertainty surrounding June parliamentary elections, and passage of a controversial foreign investment law last April have caused foreign investment to slow substantially.
但高通胀、盲目的政府支出、围绕今年6月议会选举的不确定性,以及去年4月通过的一项引发争议的外国投资法,这些都造成外国投资增速大幅放缓。
Mongolia has a population of just 2.8 million in a land mass four times the size of Germany. A former Communist satellite of the Soviet Union, it has had a parliamentary democracy since the 1990s and pursued a free-market economic policy. Discoveries of vast deposits of copper and coal in recent years, and the country's proximity to China, have made it one of the fastest-growing economies in the world.
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