Navigating Rates
EMD Monthly Market Musings - Get up! Stand up! Stand up for… (EM) central bank independence

After a relatively stable summer, where carry rather than price appreciation has driven emerging market (EM) bond returns, we reflect on continued strong performance of this asset class. As the outlook for US monetary policy comes back in focus, so has the debate around central bank independence. This month, we review the experience of Argentina, Türkiye and South Africa.