# Why Hard Currency Emerging Market Debt is Back in Focus

Page: https://stenobird.com/podcast/disruptive-forces-in-investing-558440/why-hard-currency-emerging-market-debt-is-back-in-focus
Text version: https://stenobird.com/podcast/disruptive-forces-in-investing-558440/why-hard-currency-emerging-market-debt-is-back-in-focus.md
Podcast: [Disruptive Forces in Investing](https://stenobird.com/podcast/disruptive-forces-in-investing-558440)
Published: 2025-11-05T21:28:10+00:00
Episode link: https://disruptive.libsyn.com/-why-hard-currency-emerging-market-debt-is-back-in-focus
Audio file: https://traffic.libsyn.com/clean/secure/disruptive/Disruptive_Forces_-_EMD_PASS1_Music.mp3?dest-id=1167224
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JSON: https://stenobird.com/v1/public/podcasts/disruptive-forces-in-investing-558440/episodes/why-hard-currency-emerging-market-debt-is-back-in-focus
Duration seconds: 1398

## Resource

Emerging market debt has weathered a long stretch of tight financial conditions—marked by a strong US dollar, higher global rates, and uneven post-pandemic recoveries. With the dollar softening and policy rates beginning to ease, investors are warming up to hard currency EM debt as a potentially attractive source of diversification and carry. On this episode of Disruptive Forces , host Anu Rajakumar speaks with Global Co-Head of Emerging Markets Debt Gorky Urquieta to hear what's been driving hard currency EM debt and what role it plays in today's fixed income landscape. Together, they unpack the differences between hard and local currency exposures, explore how dollar dynamics and the Fed's easing cycle can influence performance for EM sovereigns. This communication is provided for informational and educational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. Information is obtained from sources deemed reliable, but there is no representation or warranty as to its accuracy, completeness or reliability. This communication is not directed at any investor or category of investors and should not be regarded as investment advice or a suggestion to engage in or refrain from any investment-related course of action. Neuberger Berman is not providing this material in a fiduciary capacity and has a financial interest in the sale of its products and services. Investment decisions should be made based on an investor's individual objectives and circumstances and in consultation with his or her advisors. All information is current as of the date of this material and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Neuberger…

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