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And don't miss Marcus Ashworth on the lessons of Tajikistan's bond-market foray: "That this debt deal is even feasible, for what is not even a frontier country credit, is a clear illustration of the risks now acceptable to emerging market investors -- the yields that investors might clinch with this one aren't too far off from what's been seen in recent deals. This is a sign more of the frothiness of the credit markets than the relative merits of Tajikistan."
This column does not necessarily reflect the opinion of Bloomberg LP and its owners.
Max Nisen is a Bloomberg Gadfly columnist covering biotech, pharma and health care. He previously wrote about management and corporate strategy for Quartz and Business Insider.
To contact the editor responsible for this story: Mark Gongloff at mgongloff1@bloomberg.net.
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