Emerging Markets Debt: Navigating a Shifting Landscape

Emerging Markets

Emerging Markets Debt: Navigating A Shifting Landscape

Emerging Markets are rife with opportunity, but managing risks is critical.

From an uncertain global macro environment to trade tensions to geopolitical conflict, there are a number of risks facing emerging markets debt investors. But attractive opportunities continue to materialize across the EM spectrum, including in local currency, sovereign hard currency and corporate debt. The key to capitalizing on them is selectivity.

Income and Diversification

Emerging markets can offer a potential yield premium versus developed market debt.

Not All Issuers Are Created Equal

Challenges will persist, but not all countries and companies will be equally impacted.

From Volatility to Opportunity

Volatility often leads to price dislocation, creating value opportunities for investors.

Public Fixed Income

EM Debt is Back in Focus

Cem Karacadag, Head of Global Sovereign Debt and Currencies, explores the structural improvements, compelling valuations and shifting risk dynamics that are bringing EM debt to the forefront.

Newsletter – 2 min read

Hagia Sophia and Historical Peninsula in Istanbul.

Public Fixed Income

Reasons to Revisit EM Corporate Debt: A Short Duration Approach

A short-duration allocation to emerging market (EM) corporate debt offers the potential for attractive carry, incremental yield and portfolio diversification—while reducing interest rate sensitivity and preserving flexibility to reposition as monetary conditions evolve.

Insights – 5 min read

Public Fixed Income

Global Fixed Income: Themes to Watch in 2026

Tight spreads meet elevated all‑in yields as policy uncertainty, AI capex, and uneven growth set the stage. We see selective opportunities across High Yield, CLOs, IG Credit, and EM Debt—with 2026 shaping up as a year for rigorous credit picking.

Outlook – 7 min read

Panoramic Aerial View of Guanajuato, Mexico at sunset.

Public Fixed Income

EM Debt: The Benefits of a Blended Approach

The EM debt universe—larger, more diverse, and of higher-quality than generally perceived—offers compelling opportunities today. But given the uncertainties ahead, there are potential benefits to taking a blended approach.

Insights – 7 min read

Public Fixed Income

Emerging Markets Debt in a Trump 2.0 World

How can investors make sense of the macro and geopolitical headlines that are coming fast and furious? Ricardo Adrogue and Cem Karacadag join the Streaming Income podcast to help parse signal from noise.

Podcast – 38 min watch

A busy business district in Jakarta, Indonesia at twilight.

Public Fixed Income

EM Local Debt: Time to Shift the Perspective?

EM local debt has historically offered higher yields than the comparable U.S. risk-free rate, and recently has begun to exhibit more stability as well—which presents a compelling case for investors.

Insights – 5 min read

Street view of the colorful houses in old town of Cartagena, Columbia.

Public Fixed Income

EM Debt: Time to Load Up?

A number of factors have converged to create a potentially compelling opportunity in EM debt. And with prices at attractive levels relative to history, now may be a good time to consider an allocation to the asset class.

Insights – 5 min read

Public Fixed Income

EM Debt: The Improving Risk/Reward Dynamics

Dr. Ricardo Adrogué joins the podcast to discuss why risks including those related to inflation, interest rates and EM elections are increasingly behind us, setting the stage for a possible resurgence in investor appetite for EM Debt.

Podcast – 36 min watch

Abstract composition of dots to relay data connection featuring blue, pink and white dots.

Public Fixed Income

EM Debt: Are the Biggest Risks Behind Us?

With many EM elections now behind us, EM debt looks well-positioned heading into the remainder of the year. But with geopolitical tensions continuing to rise, and in the lead-up to the U.S. presidential election, a selective approach will be key.

Quarterly – 5 min read