hard currency

Emerging and frontier markets

Predominately hard currency debt

Outperformance brings cause for optimism

Includes quasi-sovereigns and special situations

Amy Kam to lead GAM Asian Income Bond strategy

As we enter Q2, we see particular value in the hard currency and frontier market spaces within emerging market debt (EMD).

US interest rate rises, international trade tensions and local currency volatility have remained key concerns in emerging markets (EM).

The EMD hard currency (HC) asset class has declined by 4.75% since the beginning of the year.