EM Strategy: EUR Bond Valuations Aug-2026
Regis Chatellier: Head of EM Sovereign Strategy
20 August 2026
- How emerging market EUR bond valuations compare with USD alternatives across sovereign issuers.
- What recent issuance trends reveal about activity across major emerging market borrowers.
- Why valuation gaps continue creating relative value opportunities despite tighter spreads.
- How foreign exchange hedging costs influence cross currency investment decisions.
- Which sovereign markets stand out for notable pricing differences and valuation dispersion.
Executive Summary
Updated analysis highlights EUR sovereign bond valuations across emerging markets. The report compares pricing trends against dollar denominated alternatives.
Recent issuance activity reflects continued market engagement among sovereign borrowers. Relative value differences remain evident across several countries.
Valuation comparisons reveal notable spread divergences between major bond markets. However, pricing relationships vary substantially across individual issuers.
Foreign exchange hedging conditions continue supporting cross market assessments. Meanwhile, cost dynamics influence comparative valuation perspectives.
Several sovereign curves display distinctive relative value characteristics. The analysis highlights opportunities for deeper market evaluation.
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