Investment grade and high yield credit in emerging markets have delivered divergent performance over the summer. Could this trend reverse, or is investor caution warranted in the high yield space?
A relatively benign G20 summit and expectations for easier financial conditions ahead have boosted demand for emerging market debt. However, areas of value can still be found.
Chart of JPM's long-term capital market return assumptions. Deleveraging will depress growth while risk assets should offer decent returns
Dovish central banks, strong fundamentals and an improved outlook for China suggest that all stars are aligned for emerging markets. How long can the year-to-date rally continue?
Executive summary of JPM's long-term capital market return assumptions for 2013
Full report detailing JPM's long-term capital market return assumptions for 2013
As a recovery in macro data produces glimmers of hope for the global economy, we question whether there is any value buying risk assets heading into the final month of the year, or if the market first needs more clarity on a trade deal to price in its con
Emerging market debt is underpinned by a solid fundamental backdrop, but the local index is at all-time tights. A differentiated approach seems warranted.
European high yield spreads are still above their long-term tights, but that doesn’t take quality into account. Are fundamentals robust enough to justify taking more risks?
Emerging market (EM) central banks are following their developed market peers with easier monetary policy. What are the implications for EM debt?