Today’s Talk Your Book is sponsored by VanEck:

To learn more about VanEck click here: vaneck.com/EMBXCompound

On today’s show, we discuss:

Why emerging market bonds now have lower volatility and higher carry than Treasuries
How the absence of fiscal dominance has made emerging market debt less risky
Why central banks are quietly buying Asian local currency bonds as reserve assets
The case for not hedging currency risk in emerging market bonds
Why geopolitical tensions and higher oil prices are boom times for commodity exporters

Animal Spirits:

Animal Spirits Podcast

Animal spirits is a show about markets, life, and investing. Join Michael Batnick and Ben Carlson as they talk about what they’re reading, writing, listening to and…

podcasts.thecompoundnews.com/show/animalspirits

Charts:

Check out our t-shirts, coffee mugs, and other swag here.

Subscribe here:

Important Disclosures from VanEck:

https://www.vaneck.com/us/en/talk-your-book-vaneck-disclosures-june-2026/

EMBX Performance: https://www.vaneck.com/us/en/investments/emerging-markets-bond-etf-embx/performance/

Past performance is no guarantee of future results. Investment return and principal
value will fluctuate; shares may be worth more or less than original cost when
redeemed. Current performance may be lower or higher. Call 800.826.2333 or visit
vaneck.com for month-end performance.
Investing involves substantial risk and high volatility, including possible loss of principal.
Visit vaneck.com to read and consider the prospectus, containing the investment
objective, risks, and fees of the fund, carefully before investing.
Van Eck Securities Corporation, Distributor