Local currency emerging markets debt is supported by resilient fundamentals, attractive yields, and favorable technicals despite ongoing macro and geopolitical volatility.
Wide dispersion across countries is creating opportunities for active investors to be selective across both local rates and currencies.
Our positioning favors markets where we believe valuations, policy dynamics, and macro fundamentals offer the most attractive risk/reward profiles.
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After a strong start to the third quarter, local currency EM debt came under pressure in September as expectations for U.S. monetary policy turned more hawkish and the dollar rallied. But beneath the headline volatility, the picture remained
