Gold Research

Emerging Markets: Selectivity key as Fed path clouds – HSBC

HSBC Asset Management notes that Emerging Market local-currency bonds have delivered strong returns over the past four years, supported by credible policies and attractive real yields, but year-to-date performance has softened as US Treasury yields rose and EM-US real rate differentials narrowed.

HSBC Asset Management notes that Emerging Market local-currency bonds have delivered strong returns over the past four years, supported by credible policies and attractive real yields, but year-to-date performance has softened as US Treasury yields rose and EM-US real rate differentials narrowed.

Gold impact rationale

Rising U.S. Treasury yields increase bonds' relative appeal and pressure gold.

  • Source: FXStreet news
  • 2026-08-10
  • yields

Topics: gold news, gold price impact, yields