Emerging perspectives

Emerging Market Debt Indicator March 2021

Our EM Fixed Income team summarises market developments during March across the EM sovereign debt universe. The team also shares its views on the EM debt outlook and provides insights on regional portfolio positioning.

Apr 23, 2021

20 minutes

EMD Team
Our EM Fixed Income team summarises market developments during March across the EM sovereign debt universe. The team also shares its views on the EM debt outlook and provides insights on regional portfolio positioning.

This edition includes:

  • Market review
  • Top-down views and outlook
  • Insights from the team
    • The Fed, Biden and inflation. Over the coming months, various potential scenarios could play out and each will have different implications for EM debt investors. Our base case is for a cyclical recovery, but other potential scenarios we feature include: reflation into inflation, a super easy Fed, China overtightening and a deteriorating COVID backdrop.
  • Portfolio positioning highlights
    • An overview of our positioning across EM regions, countries and currencies.

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Specific risks

Emerging market: These markets carry a higher risk of financial loss than more developed markets as they may have less developed legal, political, economic or other systems.

General risks

All investments carry the risk of capital loss. The value of investments, and any income generated from them, can fall as well as rise and will be affected by changes in interest rates, currency fluctuations, general market conditions and other political, social and economic developments, as well as by specific matters relating to the assets in which the investment strategy invests. If any currency differs from the investor’s home currency, returns may increase or decrease as a result of currency fluctuations. Past performance is not a reliable indicator of future results.

Authored by

EMD Team

Important Information

This communication is provided for general information only should not be construed as advice.

All the information in is believed to be reliable but may be inaccurate or incomplete. The views are those of the contributor at the time of publication and do not necessary reflect those of Ninety One.

Any opinions stated are honestly held but are not guaranteed and should not be relied upon.

All rights reserved. Issued by Ninety One.