El Salvador tops JPMorgan's first frontier bond index for emerging markets
El Salvador is the largest constituent of the first frontier bond index launched by JPMorgan, the compiler of the most widely-used emerging market bond indices.
Sri Lanka and Iraq are the second and third-largest in the bank's Next Generation Markets (NEXGEM) index of 18 dollar-denominated frontier bond markets, which also includes countries such as Egypt, Vietnam, Belarus and Ivory Coast, JPMorgan said.
"We define Next Generation Markets as the smaller, less liquid population of emerging market economies, where investment opportunities in the external debt market are limited," JPMorgan index specialists said.
Original source: Reuters