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Manager Insights

Greatly Exaggerated

Manager Insights White Paper Income Fixed Income
August 2020
Greatly Exaggerated

Authors & Contributors

The Mellon Emerging Market Debt Team

The Mellon Emerging Market Debt Team

Over the last decade, emerging markets have increased their net issuance of sovereign USD-denominated bonds, raising concerns that emerging markets economies are overexposed to the US dollar. In our view, this concern is overstated for several reasons including issuance patterns, index diversification, the strength of the US dollar and global rates.