Emerging-market local-currency fixed-coupon government bond auction calendar Report Interpretation

Overview

This is JPMorgan's weekly reference calendar for upcoming local-currency fixed-coupon government bond auctions across emerging markets during 10–16 August 2026. It is designed to make the timing and scale of expected sovereign bond supply visible, rather than to present a market recommendation.

Core views

The report compiles the coming week's local-currency fixed-rate government bond auctions across EM Asia, EMEA EM, Latin America and Frontier markets. For each available auction line, it provides the date, market, ISIN, bond description, coupon, expected nominal amount in local currency, USD DV01 and current yield to maturity. The stated purpose is to give investors a consolidated view of upcoming emerging-market supply. In EM Asia, the calendar includes South Korean, Malaysian, Thai, Philippine, Indonesian, Hong Kong, Chinese and Indian issuance. China is scheduled to auction a CGB 2.52% May 2076 bond with CNY40,000 million nominal amount on 12 August, followed on 14 August by new CGB issues maturing in 2036 and 2056 with CNY90,000 million and CNY73,000 million nominal amounts, respectively. India is scheduled to auction 6.03% 2029, 6.68% 2033, 7.24% 2055 and 7.50% 2056 government bonds on 14 August; the listed nominal amounts include INR110,000 million for the 2033 bond and INR50,000 million each for the 2055 and 2056 bonds. Indonesia's schedule includes Sukuk bills and several IND OIS bonds, but some amounts are TBA or not populated; the report notes that Indonesia's expected total covers SPN and INDOGB issuance, while Indian IGB details follow the official issuance calendar and may change. The EMEA EM section lists Israeli auctions on 10 August across 2030, 2031, 2035 and 2052 maturities, alongside Turkey, Romania, South Africa, the Czech Republic and Hungary. South Africa is scheduled to offer ZAR850 million each of its 2033, 2039 and 2042 bonds on 11 August, with listed current yields of 8.10%, 8.84% and 9.02%. Romania's calendar includes a RON700 million 6.75% 2035 bond on 10 August and a RON200 million 7.25% 2040 bond on 13 August. Turkey and Hungary have entries with TBA terms or amounts. In Latin America, the report lists Mexican, Chilean, Colombian and Brazilian supply. Mexico is scheduled to auction MXN15,000 million of an 8.0% 2032 Mbono on 11 August, with an 8.67% current yield. Colombia lists several bonds from 2030 to 2058 with current yields around 11.92% to 12.19%, although nominal amounts are not shown. Brazil's 13 August calendar includes zero-coupon LTN maturities in 2028, 2029 and 2032 and 10% NTN-F bonds maturing in 2031, 2033 and 2037, with listed current yields from 13.84% to 14.51%. Frontier-market entries include Egyptian and Kenyan auctions. Egypt's listed yields range from 22.62% to 25.50% across bills and bonds, while Kenya's 12 August bond auctions and 13 August Treasury-bill offerings show several TBA or incomplete fields. The report explicitly cautions that auction details are estimated when official data is not yet available.

Analysis framework

JPMorgan organizes expected sovereign issuance by region and auction date, then presents instrument-level terms and market measures where available. The calendar relies on Ministries of Finance, Bloomberg Finance L.P. and JPMorgan, with estimates used when official auction information has not yet been released.

Key data

• Coverage period10-August-26 to 16-August-26Weekly schedule for fixed-rate local-currency government bond supply.
• China CGB 2.52% May 2076 auctionCNY40,000 million; USD DV01 18,511; current yield 2.27%Scheduled for 12 August 2026.
• China new CGB issuanceCNY90,000 million for 2036 and CNY73,000 million for 2056Both scheduled for 14 August 2026.
• South Africa scheduled issuanceZAR850 million each of 2033, 2039 and 2042 bondsScheduled for 11 August 2026; listed yields are 8.10%, 8.84% and 9.02%.
• Mexico Mbono 8% 2032MXN15,000 million; USD DV01 383; current yield 8.67%Scheduled for 11 August 2026.
• Brazil listed yields13.84% to 14.51%Across listed 2028–2037 LTN and NTN-F securities scheduled for 13 August 2026.

Impact & implications

The calendar identifies the timing, maturity mix and available scale indicators for expected sovereign local-currency issuance across emerging markets during the week. Where auction terms are incomplete or estimated, the final supply profile may change as official information becomes available.

Risks

• Auction details are estimated where official data is not yet available.
• India's IGB details are based on the official issuance calendar and may be subject to changes.
• Several listed auctions have TBA or incomplete terms, including some Indonesian, Turkish, Hungarian and Kenyan entries.

What to watch

• Official confirmation of estimated or TBA auction sizes and terms.
• The 12–14 August Chinese and Indian auction schedules, which include sizeable listed nominal amounts.
• Updates to Indonesia's expected aggregate issuance across SPN and INDOGB instruments.