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...The decision means that the bonds are due to have a total estimated weight of 58 basis points in the EMBI Global Diversified index and 69bp in the EMBI Global index, JPMorgan said....
...The bonds will be included in the EMBI Global/Diversified benchmarks from April 30 to June 28, JPMorgan said on Thursday....
...In 2019 the JPMorgan index committee, following a consultation process, changed rules that had prevented high-income gulf states from having their sovereign bonds included in the EMBI Global range of benchmarks...
...a great investment opportunity in Venezuela because bonds that faced trading restrictions . . . are now free to trade,” he said, adding the potential normalisation of Venezuela’s weighting in JPMorgan EMBI...
...Turkish debt included in the JPMorgan EMBI Global Diversified bond index, a gauge widely used as a benchmark by emerging markets fund managers, posted returns of about 16 per cent in 2023....
...They’re in still default and excluded from JPMorgan’s EMBI bond indices, which is unlikely to change because of this....
...The yield spread between the JPMorgan EMBI Global index — a benchmark index of dollar-denominated EM sovereign bonds — and safe US Treasuries has surged in recent days....
...The JPMorgan EMBI global spread index — a measure of the riskiness of dollar-denominated emerging market sovereign bonds — has widened by 170 basis points since January to levels only surpassed a few times...
...Dollar-denominated emerging market sovereign bonds, as measured by the JPMorgan EMBI Global Diversified index, are on track for their worst run on record with total returns of minus 18.6 per cent this year...
...In the EM bond market, China’s dominance is much less pronounced, representing under 6 per cent of the value of the key benchmark, the EMBI by JPMorgan....
...The benchmark index of dollar-denominated emerging market sovereign bonds, the JPMorgan EMBI Global Diversified, has delivered total returns of minus 18.6 per cent in 2022, leaving it on track for its worst...
...Russia’s weight within JPMorgan’s EMBI family of hard currency-denominated sovereign debt ranges from 4.9 per cent for the EMBI+ index to 1.6 per cent of its EMBI Global Diversified version....
...The 15 countries with bonds trading at distressed levels in October made up just 6.7 per cent of the benchmark JPMorgan EMBI sovereign eurobond index....
...The benchmark index of dollar-denominated EM sovereign bonds, the JPMorgan EMBI Global Diversified, has delivered total returns of around minus 15 per cent so far in 2022, its worst start to the year since...
...The benchmark index of dollar-denominated emerging market sovereign bonds, the JPMorgan EMBI Global Diversified, has delivered total returns of minus 18.6 per cent in 2022. 10 unmissable stories this week...
...The yield spread has widened between US Treasuries and the JPMorgan EMBI Global index, an index of emerging country debt. Egypt, Tunisia, Ghana and Kenya are among the vulnerable nations....
...More than 37 per cent of the bonds in the JPMorgan EMBI index are issued by countries labelled “not free” by human rights campaign group Freedom House....
...Debt tracked by JPMorgan’s global EMBI index has generated a loss of almost 4 per cent from the end of last year when accounting for a price decline and interest payments....
...The ICE BofA and JPMorgan local currency indices, for example, each contain just 18-19 countries, compared to the 74 found in the latter’s EMBI Global Diversified measure of hard currency government bonds...
...The JPMorgan EMBI global spread index — less is more on this measure — tightened by 165 basis points, recovering nearly half of the over 380 basis points of the widening to mid-March....
...Asia’s weight in JPMorgan’s widely followed EMBI Global Diversified index of hard currency emerging market sovereign debt is just 18.7 per cent....
...Sovereign bonds in the benchmark JPMorgan EMBI Global Diversified index have risen nearly 20 per cent in value since March 23, while the extra yield demanded by investors to hold the debt versus US Treasuries...
...Sovereign EM bonds in the benchmark JPMorgan EMBI Global Diversified index rose 1.7 per cent in value from January 21 to March 4 but have since fallen 5.2 per cent....
...He estimated that as much as 37 per cent of the bonds in the benchmark emerging market index, JPMorgan’s EMBI, will default over the coming 12 months....
...Meanwhile, the gap between the average yields on bonds in the JPMorgan EMBI-GD bond index and comparable US Treasuries has spiked to 5.9 percentage points, its widest since the global financial crisis....
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