Emerging-market creditors are riding high after another strong November, with returns ranging from 5-6%. In this month’s EM Lens & Look-Through podcast, Cathy Hepworth, managing director and head of EM debt at PGIM Fixed Income, joins host Damian Sassower, BI’s chief EM fixed-income strategist, to deliver her year-ahead outlook on EM interest rates, credit and currencies. With policy-easing under way across a growing number of developing economies, she discusses the opportunities and challenges facing EM central banks as they attempt to navigate the expected slowdown in global growth.