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ISI Markets has launched REDD for Sovereign Debt, an AI-driven platform providing insights into sovereign and government-related risks for investors and analysts. The platform integrates data and intelligence to allow analysis of emerging markets issuers of hard currency bonds, along with detailed financial models and corporate structures for SOEs. The functionality of platform includes: ● Full universe of hard-currency sovereign bond issuers across emerging and frontier markets, with 10+ years of historical data and over 3 million unique data points. ● Integrated macroeconomic indicators, fund flow data, and financial metrics drawn from multiple high-quality sources. ● Continuous coverage of restructurings, policy shifts, and special situations, with 1,500+ expert reports published annually. ● ISI’s proprietary AI solution, AskREDD, enables the intuitive and instant extraction of insights from over 80,000 reports and documents - turning complex analysis into clear, actionable signals. ● Customisable alerts, watchlists, and a smoother interface designed to cut research time and quickly reveal critical information. Steve Pulley, CEO of ISI Markets, said, "The launch of REDD for Sovereign Debt marks a major strategic milestone for our firm. By augmenting the powerful proprietary sovereign news and research of REDD with relevant sovereign data from our wider product suite, we provide a 360-degree view of emerging market sovereign credit for our clients. This product showcases our power as an integrated global market intelligence provider powering our clients' critical investment decisions." END

FTSE Russell has reclassified Vietnam as a secondary emerging market from frontier, taking effect from 21 September 2026. With $18.1trn of funds benchmarked to its indices, FTSE says Vietnam had met all of its criteria for secondary emerging market status. The vendor does say that reclassification will depend on enough progress being made in providing access to global brokers needed to support index replication. David Sol, global head of policy at FTSE Russell, said, “FTSE Russell congratulates the Vietnamese market authorities on the significant progress made in aligning with international standards. The reclassification of Vietnam reflects the implementation of key market infrastructure enhancements, and we look forward to continued collaboration to ensure sustained progress ahead of the target reclassification date in September 2026.” Nguyen Van Thang, Minister of Finance of Vietnam, said: “The Ministry of Finance remains committed to advancing deeper and broader reforms, maximising accessibility for both domestic and international investors, while accelerating the modernisation and digitalisation of its market infrastructure – with the objective of establishing an increasingly transparent and efficient market.” END

Kuwait has raised $11.25 billion in its first global debt market issue since 2017. It included $3.25 billion of 3-year notes, $3 billion of 5-year bonds, and $5 billion of 10-year. They are priced at 40bp over Treasuries for the shorter maturities and 50bp for the 10-year. The transaction was led by Citi, Goldman Sachs International, HSBC, J.P. Morgan, and Mizuho as Joint Global Coordinators. The transaction was 2.5 times oversubscribed with 66% of allocations going to investors outside the Middle East and North Africa region, including 26 percent from the US, 30 percent from Europe and the UK, and 10 percent from Asia. Kuwait’s Minister of Finance, Sobeen Al-Mukhaizim, said, "This transaction reinforces Kuwait’s credibility in global markets and deepens our partnership with international investors as we advance our Vision 2035.” END

JPMorgan Chase is to adjust the criteria for its emerging market bond index by lowering the issuer cap on its GBI-EM Global Diversified index from 10% to 9% in 2026. Large issuers such as Indonesia, Malaysia, Mexico, China, and India will see their share of the index fall, with smaller issuers such as Thailand, Poland, South Africa, and Brazil seeing more representation in the index. The adjustment is designed to give investors a more balanced spread across regions by limiting heavyweight countries and reducing concentrated risks. The cap cut will mean index-tracking funds and ETFs will need to rebalance their portfolios.

T. Rowe Price has launched the Emerging Markets Blue Economy Bond Strategy, a strategy aimed at preserving water resources. With initial funding of more than US $200 million, the strategy is a boost for the corporate blue bond market, T. Rowe Price say. T. Rowe Price Blue will invest in corporate bonds in emerging markets that meet Blue Impact Investment Guidelines, developed jointly by T. Rowe Price and the International Financial Corporation. The strategy will invest in projects including marine ecosystem conservation, wastewater treatment, coastal climate adaptation, and clean water infrastructure. The strategy is aligned with UN Sustainable Development Goals 6 and 14, which target clean water and healthy marine habitats, and is classified under Article 9 of the EU’s Sustainable Finance Disclosure Regulation. It will be managed by Samy Muaddi, head of emerging markets fixed income, and Matt Lawton, head of impact fixed income. Eric Veiel, Head of Global Investments and CIO, T. Rowe Price, said, “The debut of T. Rowe Price Blue marks a significant step in addressing the need for sustainable water management and ocean preservation, By aligning the strategy’s investment objectives with specific water-related United Nations Sustainable Development Goals, we are not only mobilising essential capital to protect and sustain our world’s precious water resources, but we are also demonstrating our commitment to managing innovative and impactful investment strategies.”

Goldman Sachs Asset Management has launched an ETF targeting green and social bonds across emerging markets. The Goldman Sachs Emerging Markets Green and Social Bond Active UCITS ETF invests mainly in fixed income across corporate and sovereign issuers in emerging markets, where issuers intend to allocate the proceeds for green or social contributions. The ETF, which will list on exchanges including the London Stock Exchange, has a total expense ratio of 0.55%. “As a leading active Green Bond Fund manager, we believe Goldman Sachs Asset Management is uniquely positioned to give investors access to this quickly growing asset class,” said Bram Bos, head of the green, sustainable, social & impact bond team at Goldman Sachs Asset Management. “Through our benchmark aware investment process, we incorporate in-depth analysis of the use of proceeds and issuer ESG screening, with sound and proven EM Credit analysis.”

The former head of emerging market debt at asset manager BlackRock has warned of a Bolivia debt crisis with the October 19 runoff between Rodrigo Paz and former President Jorge Quiroga who has said the country needs to renegotiate its $14 billion of external borrowings. Sergio Trigo Paz told Reuters that Bolivia's situation means distressed debt investors were now circling. Bolivia has only enough foreign exchange reserves to cover two months of imports and in March the new government faces $380 million worth of debt payments. The country's 7.5% bond maturing in 2030 has been trading just below 80 cents on the dollar after a the August 17 first-round voting. Trigo Paz said there has also been a short squeeze caused by local pension funds. He said, "This is exactly the environment where distressed-debt funds thrive. They buy (bonds) at cents on the dollar, litigate for recovery and wait." The International Monetary Fund has recommended that Bolivia phase out costly fuel subsidies, exit its US dollar peg and lift capital controls.

19th June 2025, London: TT International (“TT”), an alpha-driven specialist investment manager, announces the appointment of Michael Tambue as an Emerging Markets Investment Specialist for its Emerging Markets franchise across equities and fixed income. Tambue, a seasoned investment specialist with close to 20 years of market experience, joins to support the development of the Emerging Markets Equity and Debt strategies, covering long-only and alternatives. Tambue previously worked alongside Jean-Charles (“JC”) Sambor, TT’s Head of Emerging Markets Debt, and much of the current EM Debt team, including Alex Zunega, Stefan Roessler, Ronald Huang and Michael Lam, while at BNP Paribas Asset Management on the Emerging Markets Fixed Income investment and trading desks. These core team members have worked together for eight years and were joined by Di Wang in 2024 when they transitioned to TT. Their long-standing collaboration and complementary expertise underpin a robust, differentiated institutional investment process that continues to deliver strong results for clients. Most recently, Tambue was the Emerging Markets and Frontier Sales Director at global asset management firm, Record. Eric Mackay, Managing Director, TT International, said: “Michael is a very well-respected investment specialist in the EM space, so we’re delighted to welcome him to the team. Since launching our first Emerging Markets product in 2011, we have consistently enhanced our offering. Michael’s appointment reinforces our commitment to delivering high-quality, cross[1]asset EM solutions and underpins our focus on serving the evolving needs of our clients.” Jean-Charles Sambor, Head of Emerging Markets Debt, TT International, said: Michael's appointment highlights TT’s growth intentions very clearly. Having worked with Michael in the past at BNP, our team are familiar with his expertise, and I am optimistic about his impact on our EM franchise.” Robert James, Emerging Markets Equities Portfolio Manager, TT International, said: “Michael will be vital in enhancing our capabilities across all EM asset classes. Our goal is for TT to deepen our well recognised expertise in Emerging Markets”.

The Republic of Indonesia has issued its first Australian dollar dominated bonds: AUD500 million 4.400% Notes due 2030 and AUD300m 5.300% Notes due 2035. Felipe Duque, capital markets partner at A&O Shearman who advised on the issue, said, “This transaction reflects the Republic’s commitment to diversifying its funding sources. By tapping into the Australian dollar market, the Republic has broadened its investor base and demonstrated its ability to access the global capital markets in non-G3 currencies. The successful debut entry in the Kangaroo bond market also sets a valuable reference for Indonesian corporates seeking to diversify their funding sources. We are honored to have been involved.” The issuance highlights the strengthening financial and economic ties between Indonesia and Australia, following the introduction of a comprehensive strategic partnership framework between the countries.

M&G today has announced the appointment of Charles de Quinsonas as Head of Emerging Markets Debt following the retirement of Claudia Calich. In addition, M&G has appointed Carlos Carranza as a Senior Emerging Markets Debt Fund Manager, who joins in October from Allianz Global Investors. de Quinsonas has more than 15 years of EM debt investment experience, with a decade-long track record in managing various EM Debt blended, sovereign and corporate bond funds. Andy Chorlton, Chief Investment Officer of M&G’s Fixed Income business, said: “Charles has consistently demonstrated his investment acumen across M&G’s blended, sovereign and corporate EM bond funds in the past decade. His 12-year partnership with Claudia and contribution to the growth of the team provides continuity of leadership for our emerging market strategies. This appointment is testament to our succession planning, enabling the team to navigate this dynamic part of the fixed income universe to provide superior investment performance to our clients."