Loading…
Loading…
EMBH (iShares Interest Rate Hedged Emerging Markets Bond ETF) is no longer actively trading.
This usually means the company was acquired and taken private, delisted from its exchange, or its ticker has been retired. Every price, valuation, dividend, and analyst figure on this page is frozen at the last available trading session and reads as historical reference — not a current-day signal.
The issuer typically closes a handful of funds during the month every year.
Performance of emerging markets local currency bonds has been negatively impacted by the U.S. dollar's strength since mid-year, despite the higher real yields and upside growth surprises in many emerging markets. Currency returns can be volatile, and external factors can have a bigger short-term impact on an emerging markets currency (EMFX) even if relatively attractive fundamentals may provide longer-term support.
Emerging markets offer attractive alternatives to fixed income investors searching for yield amid the trillions of dollars of negative-, zero-, and low-yielding debt globally. Within emerging market hard currency investment grade bonds, we think it is prudent to be shorter duration or at least hedge the Treasury risk component, given the low yield per unit of duration today.
The week also saw a range of share splits, closures and launches.
Past experience shows us that emerging markets have historically reacted positively to higher global rates, especially if the latter reflects an improving global growth outlook. Most emerging markets will start normalizing rates well before the U.S. and developed markets.
Prospects for disinflation in the emerging market economies are likely to boost EM bond ETF inflows as reflationary trend may hurt U.S. bond market.
We do not expect faster growth to lead to a significant deterioration in most macro variables. The huge amount of negative-yielding debt globally will likely continue to encourage investors to increase allocations to emerging markets.
Today, China's economic recovery continues ticking along, and we are even seeing some indicators showing growth relative to last year.
Full call transcripts — prepared remarks + analyst Q&A — with speaker-by-speaker formatting and one-click switching across every quarter on file.
Click below to see what's inside, then upgrade to read every transcript for EMBH and 80,000+ other tickers.
Transcripts source: company-published earnings calls. Speaker attribution and formatting are processed in-app.