This page highlights the difference in nominal (grey bars) and real yield levels (green dots) between the developed markets (DM) and emerging markets (EM). Real yields are nominal yields minus local inflation. The chart on the left demonstrates the difficulty of finding yields in DM countries, where most of them have negative real yields. The chart on the right shows there are ample yield opportunities in emerging markets, though the higher yield compensates for the higher credit risk of emerging markets.