MNI EM Credit Weekly

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EXECUTIVE SUMMARY:

EM USD benchmark credit spreads marginally wider during the week as markets focused on upcoming Fed Chair Jerome Powell’s Jackson Hole speech. Asia showed a resumption of primary activity with new mandates. In CEEMEA, earnings continued to flow through with some meaningful updates from Turkish corporates. In LATAM, spread moves were minimal despite several macro events and a flux of earnings which dictated individual spread moves. In the week ahead we expect key US eco data, potential US-India tariff discussions and individual company specific news flow will drive EM credit spreads.