英文他们_营销_市场_四分之一_眼睛_宽_开

This document is intended for institutional investors and is not subject to all of theindependence and disclosure standards applicable to debt research reports prepared for retailinvestors under U.S. FINRA Rule 2242. Barclays trades the securities covered in this report for itsown account and on a discretionary basis on behalf of certain clients. Such trading interestsmay be contrary to the recommendations offered in this report.Please see analyst certifications and important disclosures beginning on page 207.The Emerging Markets QuarterlyEyes wide openEM’s exposure to US tariffs, geopolitics and softer globalgrowth is, in our view, offset by the commodity price boost forexporters and a renewed interest in the asset class as a wayto diversify out of the US. We expect the outlook for EM localand credit to remain robust and carry to perform.EM Economic & Strategy OutlookEyes wide open. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3EM