In this edition of the Investor’s Guide to Mongolia, we spotlight Emerging and frontier market debt entering 2026 on a very different footing than a year ago.

We assess how a strong 2025 performance for EM and frontier sovereign bonds is reshaping investor positioning, and what this means for 2026. We look beyond headline returns to examine the structural, technical, and macro drivers influencing the asset class, with a dedicated focus on Mongolia as one of the standout frontier credits.

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