About this work
The May tracker records a partial recovery from March's emerging-market selloff, with $58.3 billion in portfolio inflows during April. Debt attracted $51.9 billion, mainly outside China, while equities returned to positive flows. Renewed issuance indicated improving market access before the underlying economic shock had dissipated. The note leaves open whether this was lasting normalization or an initial respite constrained by energy costs, inflation and selective financing.
Cite this work
Jonathan Fortun (2026). IIF Capital Flows Tracker: May 2026. Institute of International Finance.