By Gustavo Medeiros, Ben Underhill
The Emerging View

EM Sovereign Debt: The ultra-marathon runner goes on

Inflation has peaked, the capex supercycle rolls on, and EM fundamentals keep improving. We explain why EM sovereign debt, yielding close to 7%, remains one of the most attractively valued asset classes today.

Subscribe to our insights

Subscribe and get notified as soon as we publish our content

The latest insights from our categories

Weekly investor research

The arrival of Kimi K3 tests investors’ faith in Jevons’ Paradox

Chinese open-weight model Kimi K3 raises questions over AI lab monetisation, testing investors’ faith in Jevons’ Paradox. The Korean memory stock unwind extends, US CPI turns negative and the Bank of Korea hikes for the first time in three years.
Weekly investor research

Hormuz hostilities and a memory stock correction

US-Iran hostilities push oil back to nearly USD 80 and Korean memory stocks fall in a positioning unwind. SK Hynix’s ADRs debut on Nasdaq, China’s central bank adds to gold, and Ukraine secures EUR 140bn in weaponry pledges at the Ankara NATO summit.
Video

WEBINAR: EM Sovereign Debt: The yields are all-right

Watch the replay of this insightful webinar where Gustavo Medeiros (Global Head of Research) and Christian Schniewind (Portfolio Manager for Emerging Markets Debt) discuss their views on EM sovereign debt dynamics.

Latest Insights

Financial data under the magnifying glass
Market Commentary

Russia & Belarus index exclusion post-mortem

This piece reviews the background and impact of the exclusion of Russia and Belarus from the main Emerging Markets (EM) indices as well as the current market conditions and outlook for Russian and Ukrainian bonds.
Metal laser cutting tool
Weekly investor research

Global Manufacturing PMIs play into the stagflation narrative

Global Markit Manufacturing PMI indicators softened, as China underperformed due to targeted lockdowns in Shanghai, notably. The increase in ISM prices paid and the depressed level of supplier delivery times in the US Markit PMI provide further...
World globe map
The Emerging View

The case for EM in a multipolar world

The Russian invasion of Ukraine is a shock to the existing world order. From an economic perspective, the initial impact of the war is rising inflation given the importance of Russia and Ukraine in the supply of commodities to the world. The economic...
Empty shelves
Weekly investor research

Energy and food crisis looms as the Ukraine war broadens

The situation on the ground continues to escalate. The United States Secretary of State Antony Blinken said the US may backfill aircrafts to Poland as the latter sends theirs to Ukraine. Blinken also said the US is considering a full oil embargo on...