JPMorgan confirmed on April 23, 2026, that it will add Saudi Arabia to its benchmark Government Bond Index-Emerging Markets (GBI-EM) effective January 29, 2027, according to a note circulated by the New York-based bank. Saudi Arabia will be included with a 2.52 percent weighting, marking a significant step in the kingdom’s integration into global emerging markets debt benchmarks.

Index Details and Scope

The GBI-EM is described as the most widely tracked benchmark of its kind, with $233 billion in tracked investments. JPMorgan’s decision follows what the bank characterized as “a multi-year effort of sustained reforms by the local authorities to enhance market access for international investors and improve domestic trading capabilities.”

Eligible Saudi Assets

Saudi sukuk—shariah-compliant debt instruments that function like bonds—with a remaining maturity of up to 15 years will be eligible for inclusion on the index. JPMorgan identified eight sukuk issuances that qualify for inclusion, with a combined total value of $69 billion.

Market Impact

Inclusion on the GBI-EM is expected to boost liquidity and demand for Saudi sovereign debt, potentially reducing the cost of borrowing for the kingdom.

Saudi Arabia’s Debt Market Strategy

Saudi Arabia is increasingly turning to international debt markets to address a widening budget deficit and continue funding long-term economic development projects under Vision 2030. The inclusion represents recognition of the kingdom’s market reforms and improved investor access.

Prior Announcement

In September, AGBI reported that JPMorgan had placed Saudi Arabia on “Index Watch-Positive,” which put the kingdom on track to join the GBI-EM.

View Source

Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to Disclaimer.

S&P 500 Index Hits Intraday Record High, Up 0.13%

Indices

Gate News message, April 23 — According to Gate's market data, the S&P 500 index (U.S. benchmark equity index) reached a new intraday high, rising 0.13%.

GateNews1h ago

Nasdaq 100 Turns Positive, Market Sentiment Improves

Macroeconomics Stocks Indices

Gate News message, April 23 — The Nasdaq 100 index (U.S. tech-heavy benchmark) turned positive today, signaling an improvement in market sentiment.

GateNews3h ago

U.S. Manufacturing PMI Hits 54 in April, Services PMI at 51.3

Macroeconomics Indices

Gate News message, April 23 — S&P Global released preliminary economic data for April on April 23. The U.S. manufacturing purchasing managers index (PMI) came in at 54, while the services business activity index reached 51.3. The composite output index, which combines both sectors, stood at 52.

GateNews3h ago

U.S. Stock Indices Open Lower on April 23; Dow Falls 182.74 Points

Macroeconomics Indices

Gate News message, April 23 — U.S. stock indices opened lower on Thursday, April 23. The Dow Jones Industrial Average (benchmark U.S. equity index) fell 182.74 points, or 0.37%, to 49,307.29. The S&P 500 (broader U.S. market index) declined 16.66 points, or 0.23%, to 7,121.24. The Nasdaq

GateNews3h ago

Cboe Sells Canada and Australia Exchanges to TMX for $300 Million

Indices

Gate News message, April 23 — Cboe Global Markets has agreed to sell its Canadian and Australian equities exchanges to TMX Group for $300 million, marking a strategic shift as Cboe reallocates capital toward digital assets, event markets, and emerging market infrastructure. The transaction, which fo

GateNews4h ago

Global Bond Markets Reprice on Geopolitical Tensions and Inflation Resurgence in Q1 2026

Indices Forex Commodities

Gate News message, April 23 — Global bond markets entered 2026 expecting monetary easing, but geopolitical tensions in the Middle East and energy supply disruptions reversed that narrative during Q1, forcing investors to reassess interest rate outlooks. According to Eurex data, March marked a

GateNews7h ago

Comment

0/400

ReviewMonsterDoesn'tSleep

· 5h ago

Inclusion in the index = improved liquidity, but it also means it is more easily influenced by global macro sentiment, especially as fluctuations in U.S. Treasury yields can transmit quickly.

View OriginalReply0

GateUser-f4b3df7a

· 5h ago

Effective until January 2027, the market may start pricing in a year in advance, with volatility points actually lying in the "expectation gap."

View OriginalReply0

NoSleepBridge

· 5h ago

This is also quite interesting in the crypto space: traditional funds are more willing to invest in emerging market bonds, and when risk appetite increases, on-chain assets may also benefit.

View OriginalReply0

GateUser-99725296

· 5h ago

2.52% weight is not small, equivalent to giving Saudi Arabian bonds a "passive buy" ticket.

View OriginalReply0

RetroRadioWaves

· 5h ago

2.52% sounds small, but for institutions tracking GBI-EM, it's a mandatory allocation, and the net inflow could be quite significant.

View OriginalReply0

RugProofRita

· 5h ago

A milestone for Saudi Arabia, for investors it means: more reasons to allocate, but don't forget the risks related to exchange rates and oil prices.

View OriginalReply0