Don't play with Mongolian fire

Bond investors can sometimes be too sanguine, and Mongolia looks to be an example of that.

The country's sovereign notes have returned 1.5 percent over the past three months, the best performance among nine Asian markets, according to JPMorgan Chase & Co. The nation's 10.875 percent U.S. currency debentures due 2021 are trading at 105.3 cents on the dollar to yield 9.3 percent, while its 5.125 percent bonds that mature in 2022 yield 8 percent, down from 11 percent 12 months ago.

For more:

https://www.bloomberg.com/gadfly/articles/2017-02-03/don-t-play-with-mongolian-fire