Emerging-market bonds gained Nov.4, extending their biggest rally since 2001 to a seventh day, as lower money-market rates eased investor concern that a credit squeeze will cut choke off lending to developing nations. Emerging-market assets were rebounding from a record tumble in October as interest-rate cuts by central banks and as much as USD 3 trillion of emergency credit help drive down the London interbank offered rate, or Libor, that banks charge each other for loans, Bloomberg reported. Ecuador led gains today, with the spread on the country's bonds contracting 3.65 percentage points to 27.15 percentage points, according to JPMorgan.
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