‘It’s a Carry World’: EM Trade Posts Longest Run Since 2008

Cathy Hepworth, head of PGIM's emerging-markets debt team, which manages $1.5 trillion in assets, identifies 'carry' as her highest-conviction theme across the developing world. The emerging-market trade is posting its longest run since 2008, according to the report. Investors are increasingly focusing on carry strategies as a key driver of returns in the current environment.