“EM bonds continue to suffer from uncertainties surrounding economic growth and policy around the world. This is particularly the case in China, where slower growth is meeting tepid government stimulus. April credit data from China, set to be released this week, may provide a growth update. Geopolitics continues to weigh on EM bonds as well. The U.S. Office of Foreign Asset Control's license for Russia to service its foreign debt is set to expire on 25 May. If OFAC decides not to extend this license, the Russian government may default.
Investors continue to reduce their risk exposure to EM bonds,
Investors continue to reduce their risk exposure to EM bonds,
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