See the wood, not just the trees

Despite spread widening, defaults in the high yield market have yet to hit significant levels. Will structural changes in the market limit the damage from defaults in future crises?

Emerging markets have been hit by stern economic challenges in 2022. But many companies are proving resilient thanks to strong fundamentals, as our emerging market corporate debt team explain.

Beijing’s ideological battle to stamp out COVID-19 appears increasingly misguided as the rest of the world learns to live with the virus. But the impact of China’s approach will be felt far beyond its borders.

In this month’s instalment of our visual series on topical themes, we look at whether the global economy is heading towards stagflation.

Russia’s war in Ukraine has contributed to soaring food prices, supercharging global inflation. Poorer countries will likely be hardest hit, adding to the risk of social unrest. With public finances and incomes already under strain, emerging-market debt investors should be on high alert.