JPMorgan Classifies Qatar And Kuwait As Developed Markets For Bonds

JPMorgan has announced that it has classified Qatar and Kuwait as developed markets, and that they will no longer be included in the Emerging Markets Bond Index. The American investment bank stated that it will increase the weighting of bonds from both Gulf countries in equal nominal amounts over a six-month period, starting on March 31 and continuing until August 29. JPMorgan's Emerging Markets Bond Indices are considered the global benchmark for emerging market debt.