BWC Member Shamaila Khan recently co-authored a piece for UBS examining the sharp rise of hard- and local-currency debt in emerging markets. Tracing a decade of debt dynamics, the authors break down the story into past, present, and future, highlighting what could come next. They note that, “Easing of tariffs, reduced geopolitical tensions or negotiation of ceasefires as well as continued stabilization of growth in China would be very positive for EM assets. In such an environment, we believe EM sovereign and corporate dollar denominated debt is likely to continue to perform well.”

To read more at UBS.com, click here.