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 Sep 2026
Source vintage Oct 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
- The report links September’s reversal to higher US real yields and a stronger dollar as investors repriced the Fed’s policy path. This combination raised the hurdle for emerging market bonds and equities after the more supportive conditions of August.
- Equity selling was concentrated in emerging Asia, especially Korea, where foreign investors took profits after a strong rally. Latin America was more resilient, with Brazilian equity purchases alongside domestic monetary easing.
- Debt pressure broadened across regions as demand for hard currency bonds weakened and sovereign spreads widened. The report identifies further advanced economy tightening and more expensive yen-funded carry as risks to a recovery in flows.
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