Argentina’s whopping USD 16.5 bn bond sale on Tuesday opened up the “floodgates” for junk-rated issuers in developing countries in what Goldman Sachs is calling the best financing conditions for emerging markets since 2012, Bloomberg writes. With the "new, liquid, high-yield emerging-market benchmark, there are a lot of issuers who will look to get their fundraising done quickly," said Graham Stock, head of emerging-market research at Bluebay Asset Management. As investors seek refuge from negative yields from Europe to Japan, JPMorgan Chase in March raised its forecast for 2016 sovereign sales by 64% to USD 100 bn.