In a world of slow yet steady, non-inflationary economic growth, interest rates are likely to remain at relatively low levels over the medium term.
While valuations in emerging bond markets may look fairer after solid performance in 2019, we believe various factors remain supportive to the outlook.
Hard currency (HC) and local currency (LC) emerging market debt (EMD) have already delivered 13% and 10.3% this year respectively.
Investors hopeful of bounceback ahead of elections
Move to avoid currencies at risk of underperforming
Select issuers now more attractive
Which of this year's teams excel with their domestic growth?
Argentinian 100-year bonds down 30% over last week
In the wake of Monday's sell-off
Headwinds in the most unexpected places
LatAm giants' economies in focus ahead of Copa América
Latest MSCI index update
Economic surplurses also pose risks
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Elections and oil prices among top talking points
In 2018, the world economy entered unfamiliar territory.
Over half of respondents now see EM equities as undervalued
US interest rate rises, international trade tensions and local currency volatility have remained key concerns in emerging markets (EM).
Elections and currency woes
After very strong returns in 2016 and 2017, emerging market debt (EMD) has underperformed this year amid intensifying concerns around trade protectionism, bear-flattening of the US Treasury yield curve, a strengthening US dollar and idiosyncratic issues...
It has been a challenging year for emerging markets (EMs).
Increase in 'crossover' economies