JPMorgan to Add Saudi Riyal Bonds to Key EM Index Next Year

JPMorgan Chase & Co. plans to add Saudi Arabia’s local-currency bonds to its widely followed benchmark emerging-market index in early 2027, a move that would help the kingdom attract more foreign portfolio investment and fund its economic transformation plan.

The notes will be phased into JPMorgan’s Government Bond Index-Emerging Markets gradually, starting on Jan. 29 and eventually reaching a weighting of 2.52%, the Wall Street bank said Wednesday in a note.