Local currency emerging market debt (EMD) has matured into one of the most diverse opportunity sets in global fixed income. Issuance has grown, liquidity has deepened, yield curves have developed, and the ownership base has broadened across domestic and international investors. For many emerging economies, a functioning local bond market and credible monetary policy are now signals of economic development rather than aspirations.
Doug Manor, Managing Director, Neuberger Private Markets, provides an overview of private equity markets and an outlook based on trends in the marketplace.
Head of Global Sovereign Debt & Currencies, Cem Karacadag shares insight into the broad EM Debt universe and explains why spreads may be overcompensating for default risk.