Developing Story
Emerging Market Debt Rally Amid Rich-World Fiscal Fears
Major asset managers are increasingly buying emerging-market debt even as Treasury yields rise, as fiscal concerns about developed economies grow.
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Investors including JPMorgan Asset Management, Generali, and Ninety One SA are increasing holdings of emerging-market debt, defying a surge in Treasury yields that would historically have prompted a retreat from such assets (Bloomberg, October 25). The trend reflects growing fiscal fears around rich-world sovereign debt, reportedly driving a rotation of capital toward emerging markets.