(Harvest) The landscape for emerging market (EM) local debt is expanding fast – and looks set to continue. Earlier this year, Argentina, the Czech Republic and Uruguay joined the bellwether benchmark for the asset class, the JPMorgan Government Bond Index-Emerging Markets (GBI-EM), taking the total to 18 countries. China, Egypt and another three countries may enter the index next year. The inclusions will make the EM local debt asset class much larger, deeper and more liquid.
Emerging Market Local Debt: Growing Depth, Growing Opportunity
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