EM Portfolio Flows Tracker
Monthly nonresident investment in emerging market stocks and bonds. Explore portfolio composition and regional patterns.
Data and estimates: Institute of International Finance (IIF)
Observations through Aug 2026
Source vintage Sep 2026
- China debt
- Debt outside China
- China equity
- Equity outside China
- Net flows
Monthly emerging market portfolio flows. Positive bars indicate net inflows and negative bars net outflows. The line shows the net total for the displayed components.
Drivers this month
- Demand for existing EM bonds remained supportive despite higher US yields. With international sovereign issuance paused, the report interprets August’s debt inflows as secondary-market allocation rather than absorption of new sovereign supply.
- The equity recovery remained selective: buying in Taiwan and India contrasted with selling in Korea and China. The report describes support from passive and benchmark investors, without a broad return of active-manager buying.
- A softer dollar helped distinguish this episode from earlier US yield shocks. The report links resilient EM demand to diversification as US fiscal concerns lifted long-term yields, while identifying tighter policy and yen-funded carry positions as risks ahead.
About the estimates
Net nonresident purchases of emerging market stocks and bonds are a proxy for portfolio flows in the balance of payments.
Source: IIF Capital Flows Tracker