PH, SA: JPMorgan to Integrate Philippine and Saudi Bonds into GBI-EM Index

JPMorgan to Integrate Philippine and Saudi Bonds into GBI-EM Index

Apr 23, 2026 03:00 UTC

PH, SA

Medium term

JPMorgan Chase & Co. has announced the inclusion of local-currency government bonds from the Philippines and Saudi Arabia in its widely tracked Government Bond Index-Emerging Markets (GBI-EM). The integration process is scheduled to begin on January 29, with the securities being phased into the index over time. According to a note from the Wall Street bank, Philippine debt securities will be added until they reach a final weighting of 1.78%. Saudi Arabia will follow a similar trajectory, with its bonds reaching a final weighting of 2.52% within the index. The GBI-EM serves as a critical benchmark for global institutional investors and passive funds. Inclusion in this index generally mandates that index-tracking funds purchase the underlying assets, which typically leads to a surge in foreign capital inflows and improved liquidity for the issuing nation. For the Philippines, this development is viewed as a strategic boost that could help spur national economic growth. By increasing the visibility and accessibility of its local-currency debt, the country may benefit from lower borrowing costs and a more diversified investor base.

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JPMorgan to Integrate Philippine and Saudi Bonds into GBI-EM Index

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