We expect emerging market (EM) fixed income asset classes to continue to perform well in 2020. Though the sector appears to be starting from less attractive valuations than a year ago, in a low-yielding world, we see opportunity for relative performance in credit and local rates and a tactical tailwind for EM currencies.

We remain cautiously optimistic on emerging markets (EM) in 2019 despite a challenging 2018.

Earlier this month, the Loomis Sayles sector teams published their 2018 outlook. Here's a snapshot of what our bank loans sector team is anticipating this year.