瀚亚投资:新兴市场债券分化中蕴藏机遇

格隆汇
Sep 23
瀚亚投资在一份报告中表示,新兴市场债券已不再是20世纪90年代那种仅限于不良债务的狭窄细分市场,而是全球增长的强劲引擎,蕴藏着多元化的机遇。该资产管理公司表示,在新兴市场发行的美元主权债券中,获投资级评级的债券占比已从1991年的0%升至2025年的50%以上。与此同时,在一些发达市场,巨大的财政需求和结构性高企的社会支出可能会给实现通胀可持续回落的路径带来挑战。人工智能带来的颠覆性影响、地缘政治紧张局势、贸易联盟的变动以及能源安全担忧,正导致新兴市场在经济增长、通胀水平和政策利率方面出现更大的分化。

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