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.
Fill out the below form to view the full article:
Please note that we can only respond to valid business email addresses and the interview is already available to clients.
Recently Published
Research
AllCovenant-ReviewAutosUS CR Quarterly Q1SovereignsBasicLevFin-InsightsTelecommunicationsMay GMUSeptember GMUFinancialsCreditSights-ResearchUtilitiesCase StudiesUS LME in Focusshow-homeshow-initiation page-homeMunicipalsSLRsOctober GMUTMTAsset Management ResourcesPharmaceuticalsJune GMUAsia in Focus Preliminary 2027 OutlookEnergyResearchGaming/LeisureWebinar Related ResourceVMED WebinarIndustrialsPoliticsMediaUS Special Sits OutlookBankruptcy 4Q26ConsumerTariffsSpecial SituationsEuro Autos: Barbarians at the GatesCorporatePrivate CreditAerospace/DefenseU.S. Autos Expert PanelCovenantsBondsReal EstateEU Special Sits OutlookStrategyPost PetitionServicesJuly GMUESGChemicalsIranAsia in Focus 2H26ESG-HomeEmerging MarketsBanksEM OutlookOutlooks-HomeTransportationConstructionEMEA CR Quarterly Q2TechnologyInsuranceAsia in focus webinarUS CR Quarterly Q2ManufacturingEMEA CR Quarterly Q1Global Credit for ME Investors
Trivium: Outperform on Silgan/AIP Acquisition
Trivium: Outperform on Silgan/AIP Acquisition
Read More
US Bankruptcy: DIP Data Report Q3’26
US Bankruptcy: DIP Data Report Q3’26
Read More
U.S. Liability Management Transactions: Quarterly Update Through Q3 2026 and Primer
U.S. Liability Management Transactions: Quarterly Update Through Q3 2026 and Primer
Read More
US/EMEA Insight: Q&A with John Gally, Morgan Stanley’s Global co-head of Leveraged Finance