All Emerging Market Debt articles – Page 3
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White papers
Fixed Income Outlook – Be selective on emerging market debt
Given the recent strong performance for emerging market bonds, we have tempered our optimism about the potential for further spread tightening among the higher-rated segments. We remain, however, constructive on the asset class as a whole and still see attractive opportunities among lower-rated sovereign bonds, as well as selected local currency bonds.
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Outlook and Opportunities in Emerging Markets Debt
Dive into our emerging markets debt outlook, including an assessment of the macro environment and EM fundamentals, as well as potential investment opportunities.
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Five Over Five - The Structural Shifts Taking Place in EM
Following years of underperformance, we explore five structural factors that should support the emerging markets over the next five years and possibly beyond.
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Emerging Market Debt Outlook: Opportunities Amid Uncertainty
2024 is already shaping up to be a year of considerable uncertainty. The first quarter has given us a taste of that with a sharp reversal of expectations for the US economy and the monetary policy plan of the Federal Reserve.
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White papers
Fixed Income Investment Outlook 2Q 2024
Investors continue to wait for clear signals as to the timing and extent of interest rate cuts. After last year’s significant progress on prices, inflation remains elevated and slow in its path toward target levels. That said, although the timing remains uncertain, we believe that the Federal Reserve and European Central Bank will likely begin their downward journey sometime this year.
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White papers
Unveiling the value of EM debt
We believe Emerging Markets Debt (EMD) should serve as a core allocation in investors’ portfolios. The asset class has traditionally been perceived as a tactical investment opportunity or as an off-benchmark allocation. Instead, we believe a favourable macroeconomic outlook, the growth and transformation of the universe and the diversification benefits it offers means EMD should be a core allocation in investors’ portfolios.
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White papers
Re-Emerging Markets
After two years of record-breaking outflows, is emerging markets debt due for a turnaround?
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Hard and local currency bonds provide different routes to returns
Emerging market (EM) bonds are increasingly becoming a strategic holding for many investors but a key consideration in this is the different attributes of hard- and local currency-denominated bonds — the two broad sets of investments available in the asset class — and understanding the benefits each can bring to a portfolio.
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White papers
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.
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A favourable starting point for Emerging Market debt?
A favourable global growth picture and potential interest rate cuts could be advantageous for emerging market bonds in 2024. However, given significant uncertainty and the potential for election-related volatility, we believe a selective approach is crucial in identifying attractive opportunities.
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White papers
Fixed Income Quarterly – Emerging market bonds: a return of flows
Emerging market (EM) sovereign and corporate bonds saw a broad-based rally in the final months of 2023 as investors became more certain the US Federal Reserve (Fed) would be able to pivot to easier monetary policy in 2024.
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White papers
Emerging Markets Debt: Cautiously Optimistic
Buoyed by a drop in 10-year Treasury yields, moderating inflation, and an economy that continues to chug along, emerging markets debt has entered 2024 on an upbeat note.
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Bullish on bonds
”This cycle of rate hikes may be over, but we don’t anticipate seeing cuts until closer to midyear.”
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Emerging-Market Debt Outlook 2024: Turning the Corner
We expect a favorable environment for emerging-market bonds in 2024, provided investors stay selective.
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White papers
Global fixed income outlook 2024: opportunity knocking
The world appears to have moved beyond the height of interest rate hikes, inflation and economic acceleration.
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A Compelling Value Proposition in EM IG Corporate Debt
Elevated yields, improving credit quality and lower interest rate risk are presenting a strong case for EM investment grade corporate debt—especially in a soft landing scenario.
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EMD outlook 2024: Navigating a bifurcated universe
In this outlook, we outline the global backdrop that emerging markets (EMs) can expect in 2024, including a more dovish US Federal Reserve (Fed), a more supportive backdrop for EM currencies and weak global growth.
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Recent economic data confirms our outlook
”With softer economic growth ahead and the Fed expected to cut rates in 2024, this supports our positive stance on developed and emerging market bonds.”
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Insight across the fixed income spectrum
Federated Hermes’ Fixed Income Forum in London on 14 November, included sessions on the future of money markets, the prospects for emerging market debt, and the attraction of private credit.
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Not your average credit cycle
Geopolitics, hard landings, falling consumer confidence and corporate belt-tightening could all be part of the investment picture in 2024. That was the message from Federated Hermes’ Fixed Income Forum in London on 14 November.