Macro Finance
‘It’s a Carry World’: EM Trade Notches Longest Run Since 2008
Bloomberg Markets·August 23, 2026·1 min read
Cathy Hepworth, who heads $1.5 trillion asset manager PGIM's emerging-markets debt team, says her highest-conviction theme across the developing world is 'Carry, carry, carry.' The trade has notched its longest run since 2008, reflecting investor appetite for yield in emerging markets despite global uncertainties.
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