Global Economic Research & Expertise

Index Suite

The J.P. Morgan index suite covers a variety of asset classes ranging from our flagship coverage of emerging markets and developed market bond indices to credit and tradeable index strategies:

J.P. Morgan Global Aggregate Bond Index (JPM GABI)

JPM GABI consists of the JPM GABI US, a U.S. dollar denominated, investment-grade index spanning asset classes from developed to emerging markets, and the JPM GABI extends the U.S. index to also include multi-currency, investment-grade instruments.

Launched in November 2008, the JPM GABI represents nine distinct asset classes: Developed Market Treasuries, Emerging Market Local Treasuries, Emerging Markets External Debt, Emerging Markets Credit, US Credit, Euro Credit, US Agencies, US MBS, Pfandbriefe – represented by well-established J.P. Morgan indices.

The JPM GABI US is constructed from over 3,200 instruments issued from over 50 countries, and collectively represents US$8.6 trillion in market value. The JPM GABI is constructed from over 5,500 instruments issued from over 60 countries and denominated in over 25 currencies, collectively representing US$20 trillion in market value.

Emerging Markets Indices

J.P. Morgan has consistently pioneered investor interest in Emerging Markets investments through the research and development of leading indices. The J.P. Morgan Emerging Market Bond Index (EMBI) was formed in the early 1990s after the issuance of the first Brady bond and has become the most widely published and referenced index of its kind. More recently, J.P. Morgan led investors towards higher yielding local rates by launching the Government Bond Index-Emerging Markets (GBI-EM) series and the Corporate Emerging Markets Bond Index (CEMBI) series, both of which have become the new standard for local market and corporate EM benchmarks, respectively. Additionally, region specific coverage exists through the J.P. Morgan Asia Credit Index (JACI), the Russia Bond Index (RUBI), and the Latin America Eurobond Index (LEI).

Developed Markets Indices

J.P. Morgan’s developed market indices include the local debt flagship products, the J.P. Morgan Government Bond Index (GBI) series and the Economic and Monetary Union (EMU) Government Bond Index. These indices track fixed rate issuances from high-income countries spanning the globe. The developed markets index lineup has a long track record of investor adoption since the launch of the GBI Global in 1989, and has since expanded coverage through the GBI Broad and the EMU Index. The developed markets indices also include the J.P. Morgan Cash Index, the US Agency Index, the Euro Linker Securities Index (ELSI), and the J.P. Morgan Municipal Bond Index (JMBI).

Credit Indices

J.P. Morgan credit indices cover a wide range of instruments in primarily US and European markets. The J.P. Morgan US Liquid Index (JULI) and the Morgan Aggregate Index Europe (MAGGIE) encompass fixed rate high-grade coverage across these two regions. The credit index suite also includes the Floating Rate Note Index (FRNI) and the Subordinated Securities Index (SUSI).

Please contact J.P. Morgan’s Global Index Research team at index.research@jpmorgan.com or call 212 834 4230 with any questions.

 
 

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