# JP Morgan Adds Philippines and Saudi Arabia to EM Bond Index

> JP Morgan will add Saudi Arabia and the Philippines to its key emerging market bond index over 10 months starting January 29, 2027.
- Title: JP Morgan Adds Philippines and Saudi Arabia to EM Bond Index
- Summary: JP Morgan will add Saudi Arabia and the Philippines to its key emerging market bond index over 10 months starting January 29, 2027.
- Keywords: jp morgan, saudi arabia, philippines, em bond index, gbie em index, saudi riyal, philippine peso, sovereign sukuk, government bonds, emerging markets, The Economic Times
- Source: The Economic Times — https://economictimes.indiatimes.com/markets/us-stocks/news/jp-morgan-to-add-philippines-and-saudi-arabia-to-key-em-bond-index-over-10-months/articleshow/135585489.cms
- Author: Reuters
- Published: 2026-11-05T19:26:00+00:00
- Read time: 1 min
- Topics: jp morgan, saudi arabia, philippines, em bond index, gbie em index, saudi riyal, philippine peso, sovereign sukuk, government bonds, emerging markets, money, business
## JP Morgan Update
JP Morgan said Saudi Arabia and the Philippines will be added to its key emerging market bond index over a 10-month period starting January 29, 2027.
## Index Inclusion Details
The inclusion will bring Saudi riyal-denominated sovereign sukuk and Philippine peso-denominated government bonds into the US investment bank's widely tracked GBI-EM index series.
## Gradual Weight Introduction
Saudi Arabia's weight will reach 2.71% once fully phased in, slightly higher than originally flagged, and the Philippines' weight reaching 1.64%, marginally lower than indicated.
## Index Additions
The index will add nine Philippine bonds with a total notional value of $50 billion plus eight Saudi sukuk instruments worth $79 billion.
## Country Cap Adjustment
JP Morgan's update lowers the 'Country Cap' - the maximum weight any single country can hold in the diversified index - to 9% from 10%.
## Market Impact
Major markets including China, India, Mexico, Malaysia, and Indonesia will have their weight reduced to the new limit.
## Key takeaway

JP Morgan will add Saudi Arabia and the Philippines to its key emerging market bond index over 10 months starting January 29, 2027.