Higher global rates have made it a tough year for fixed income although EM may eke out a positive annual return
Recent easing in financing conditions and expectations of a soft landing help EM bonds finish on a stronger note
No sovereign bond defaults but tighter funding conditions have crushed HY issuance and pose risks for weaker sovereigns
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This report is independent investment research as contemplated by COBS 12.2 of the FCA Handbook and is a research recommendation under COBS 12.4 of the FCA Handbook. Where it is not technically a research recommendation because the subject of the research is not listed on any European exchange, it has nevertheless been treated as a research recommendation to ensure consistent treatment of all Tellimer's research. This report has been produced by the analyst(s) named above (the "Analyst").
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