As the successful rollouts of effective Covid-19 vaccines have rekindled investor optimism, emerging markets have seen a comeback in recent months.

We believe that it is prudent to remain cautious on emerging markets for five reasons: overall debt burdens; Chinese credit impulse; deteriorating conditions across the largest developed markets; a lack of catalysts for EM currency appreciation versus the US dollar; and positioning.

Lisa Chua, Portfolio Manager, join Sandy Rattray and The CIO Agenda to discuss what lies ahead for emerging-market debt.

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