摩根资产管理高管米歇尔：新兴市场债券的强劲涨势在2026年将持续

Core Viewpoint - Morgan Asset Management's Michelle emphasizes that investing in emerging market local currency bonds remains one of the best strategies heading into 2026, despite potential easing of dollar selling pressure [1][2] Group 1: Emerging Market Bonds - The company expects further appreciation in developing country local currency bonds, driven by "very high" real yields attracting under-allocated investors [1][2] - An index measuring emerging market local government bonds has returned over 15% this year, making it one of the best-performing sectors in the global bond market [1][2] - Factors such as a weakening dollar, Federal Reserve rate cuts, and uncertainties from the Trump trade war have contributed to this increase, prompting investors to shift towards emerging market assets [1][2] Group 2: Investment Preferences - Michelle expresses a preference for local currency bonds over hard currency bonds, highlighting specific countries such as Brazil, South Africa, Mexico, Hungary, Romania, and Indonesia as key investment areas [1][2] - The company believes that opportunities in emerging market local bonds remain "very significant," even if this year's return levels are not fully achievable [1][2]