Dovish central banks drive EM AT1 demand
![Middle East Fotolia 230x150](https://assets.euromoneydigital.com/dims4/default/519e6a9/2147483647/strip/true/crop/230x150+0+0/resize/840x548!/quality/90/?url=http%3A%2F%2Feuromoney-brightspot.s3.amazonaws.com%2F13%2F41%2Fa39741f87790a24bcec721e240f3%2Fmiddle-east-fotolia-230x150.jpg)
Rates are low and keep getting lower, so investors are having to turn to higher yielding forms of debt to put their money to work and get a respectable return. Issuers, particularly in the Middle East, are happy to oblige as far as their regulatory capital needs will allow.
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