The Middle East and other emerging market (EM) economies are poised to achieve a historic high in bond sales this year, Bloomberg reported, quoting banking giant JPMorgan Chase & Co.

Despite concerns that the upcoming US presidential polls and rising tensions in the region could drive turmoil in the markets, the Europe, Middle East and Africa (EMEA) region is forecast to end the year with bond sales surpassing the 2020 record of $265 billion, the report said.

“I expect that by year-end, the overall issuance volume from the region will likely establish a new all-time record,” said Stefan Weiler, the London-based head of debt capital markets for the region at JPMorgan.

So far in 2024, debt issuance in the EMEA region has reached $253 billion.

The GCC region’s debt market recorded $75.5 billion in issuances, including bonds and sukuk, during the first six months of the year, according to a Markaz report. The figure is up 38% from the $54.8 billion raised in the same period last year.

(Writing by Cleofe Maceda; editing by Seban Scaria) seban.scaria@lseg.com