Why Hard Currency Emerging Market Debt is Back in Focus

About this episode

The episode discusses the resurgence of hard currency emerging market debt and its implications in the current financial landscape.

Emerging market debt has weathered a long stretch of tight financial conditions—marked by a strong US dollar, higher global rates, and uneven post-pandemic recoveries. With the dollar softening and policy rates beginning to ease, investors are warming up to hard currency EM debt as a potentially attractive source of diversification and carry. On this episode of Disruptive Forces , host Anu Rajakumar speaks with Global Co-Head of Emerging Markets Debt Gorky Urquieta to hear what's been driving hard currency EM debt and what role it plays in today's fixed income landscape. Together, they unpack the differences between hard and local currency exposures, explore how dollar dynamics and the Fed's easing cycle can influence performance for EM sovereigns. This communication is provided for informational and educational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. Information is obtained from sources deemed reliable, but there is no representation or warranty as to its accuracy, completeness or reliability. This communication is not directed at any investor or category of investors and…

People in this episode

Host: Anu Rajakumar

Guest: Gorky Urquieta

Topics covered

• emerging market debt
• hard currency
• fixed income
• investment strategies
• dollar dynamics

Keywords

• emerging markets
• hard currency debt
• financial conditions
• US dollar
• investment advice

Mentioned in this episode

Organizations: Neuberger Berman

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