Emerging Market Debt Market Commentary: November 2024

This Emerging Market Debt Commentary by State Street Global Advisors analyzes November 2024 trends in EM local and hard currency bond markets, highlighting key drivers and regional dynamics.

• Local Currency Bonds: EM currencies weakened against the U.S. dollar, driving a -0.57% return for local bonds despite positive bond yields.  
• Hard Currency Bonds: U.S. Treasury yield declines and positive spread returns boosted performance, with a +1.19% return overall.  
• Regional Highlights: Turkey and Peru led gains, supported by stable policies, while Brazil and Romania underperformed due to inflation and political risks.

For detailed insights into EM debt strategies and outlooks, access the full report.