Eerdmans: Time to look at EMD yielding 12%?

Investec emerging market debt head highlights growth and stability as Nigeria joins J.P. Morgan index.

Nigeria’s entry into the benchmark index for local currency emerging market debt makes it primed to attract more investor attention, according to Investec co-head of emerging market debt Peter Eerdmans. Nigeria became the 15th member of the J.P. Morgan Global Diversified index this week, confirmation its bond markets are now deemed sufficiently liquid for concerted international investment. According to Investec, Nigeria’s debt yields 12%-14%, making it the highest yielding country in the index ahead of Brazil (8.54% yield), and far in excess of the index yield of 5.83%. “In a worl...