EM local bond yields set a record low despite outflows. Argentina went down the road of financial repression. Brazil’s Treasury reiterated a commitment to sound fiscal policy amidst rising political tension. South Korea’s data was mixed with weaker exports and stronger industrial production. China’s weight in the GBI-EM GD was increased to 2% at the end of April. President Moreno’s approval rating improved over his handling of the coronavirus crisis in Ecuador. Peru’s congress approved a raid on pension funds. Economic activity slowed in Thailand. Ivory Coast opposition leader Guillaume Soro disappeared from the political stage after a court ruling. After a strong week for Emerging Markets (EM) assets, sentiment soured over the weekend as US President Donald Trump ramped up attacks on China. The US growth outlook also looks bleak as much of the economic fallout from the coronavirus outbreak is likely to have implications beyond the lifting of lockdowns.