Overview
Overview
Country research is core to our investment thinking. Identifying how a country is improving or deteriorating and if markets are too slow to price in changes drives our positioning across sovereign debt and corporate securities.
Strategies
Strategies
STRATEGY
SEPARATE ACCOUNT
COLLECTIVE INVESTMENT TRUST
MUTUAL FUND
PRIVATE VEHICLES
FACT SHEET
Emerging Market Hard Currency Debt
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Emerging Market High Yield Debt
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Emerging Market Local Currency Debt
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Emerging Market Low Turnover High Grade Corporate Debt
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Emerging Market Total Return Debt
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Emerging Market Debt Team
Emerging Market Debt Team
Our experience is personal and professional. We seek consistent performance through our skill and local heritage, which we consider a differentiator.
“Time in the market is more important than timing the market. Our research-intense, risk-controlled process allows investors to stay invested, enabling the opportunity to capture structural risk premium.” — Valentina Chen, Team Head
Insights
Insights
FEATURED INSIGHTS
Emerging Markets Debt 3Q 2025 Outlook
Emerging market debt remains supported by strong fundamentals, USD weakness, and asset allocation shifts, setting the stage for continued outperformance across sovereign and corporate segments.
Emerging Markets Debt 2Q 2025 Outlook
View the Emerging Market Debt Outlook for 2Q 2025 below.
Q1 2025 EMD Outlook
Interest rates trading in wild swings, Donald Trump scoring a thumping victory, the war in Ukraine raging on in its third year, Israel attacking Hezbollah directly in Southern Lebanon, Bashar Al-Assad ousted from power in Syria.
Emerging market corporate debt: A potential core investment for institutional investors
Emerging market debt has gained significant prominence over the last two decades, in both economic and financial spheres.
US-China Trade Wars: A Benign Déjà Vu or Potential for Wider Escalation?
EMD Team gives timely perspectives on the latest developments on the US-China trade relations.
Fixed Income in 2024: Lessons from History
What do points in history, in which yields were similar to recent levels, tell us about the current opportunity set for fixed income?
Emerging Market Debt 2Q24 Outlook
Emerging market yields look attractive from a historical perspective. However, risk premiums have rallied in Q1 2024 with weaker credits outperforming their peers.
Exploring the Current Landscape of China
Emerging Market Debt Team answers topical questions on China.
Emerging Markets Debt: Fresh Thinking on an Evolving Asset Class
While providing investors with a multiverse of global exposure and opportunities, we believe it's time for fresh thinking around the evolving nature of EMD.
Emerging Market Debt 1Q24 Outlook
Emerging market bonds offer attractive return potential, particularly if inflation has peaked globally and interest rates stabilize or trend lower over the course of 2024.
MacKay Fixed Income Top 5 Insights for 2024
In navigating 2024’s landscape, concerns around the US budget deficit, along with the required Treasury debt issuance, continue to captivate investors.
Emerging Market Debt 4Q23 Outlook
Emerging debt markets have delivered positive returns for investors over the first three quarters of 2023.
Emerging Market Debt Mid-Year Outlook
From a fundamental perspective, we continue to keep a close eye on inflation, growth, China and refinancing risk of emerging markets.
Making India a Global Growth Engine
Can the World’s Largest Democracy Become the Growth Engine of the Next Decade?
Opportunities in Emerging Market Debt
View the latest insights and perspectives from the MacKay Shields Emerging Market Debt team.
Countries of Interest, Trends and Regional Outlooks
In the team’s 2023 outlook, Philip Fielding & Valentina Chen give insights to what countries & sectors look enticing in 2024 and where the asset class is heading.
2023 Emerging Market Debt Outlook
After two consecutive down years of total return in emerging markets debt, we are more positive on the total return outlook for 2023.
After the First Quarter Shock: Investing in Emerging Market Debt
Most financial markets sold off sharply in 2022’s first quarter in response to the war in Ukraine, rising inflation and expected interest-rate hikes.
Geopolitical Uncertainty: Balancing How to Stay the Course in Challenging Times
The Russian invasion of Ukraine has brought war to Europe’s eastern borders.