本地创下纪录：截至5月29日的一周内，新兴市场债券和股票基金再次录得资金流入。

Local setting a record In the week to 29 May, EM bond and equity funds recordedinflows again. Fabian Herold+44 (0)20 7773 0753fabian.herold@barclays.comBarclays, UK The positive momentum in EM bond fund flows remains impressive as EM local-currency fundscontinue to attract very large amount of inflows. In fact, inflows in the most recent weeklyperiod were at record levels, thanks to inflows into Asia/China focussed funds. EM credit fundshave been less fortunate, though, as they recorded their first week of outflows in five weeks,driven by outflows from ETFs. EM equity funds attracted inflows. Andreas Kolbe+44 (0) 20 3134 3134andreas.kolbe@barclays.comBarclays, UK In our EM Weekly: Swings and roundabouts, 30 May 2025, we note that headline risk on UStariffslinger, yet newsflow and cautious positioning are supportive for EM assets. Tight EM creditspreads are a headwind and EM currencies may struggle, but EM rates remain resilient to longUS rates. Market attention has turned to idiosyncratic factors in EM. We think that theenvironment for EM flows is likely remaining constructive, for now. Badr El Moutawakil+1 212 526 8907badr.elmoutawakil@barclays.comBCI, US FIGURE 1. Flows into dedicated EM funds (bond & equity total) Source: EPFR Global, Barclays Research Source: EPFR Global, Barclays Research FIGURE 6. Flows into dedicated EM funds (bond & equity total) - longer history Source: EPFR Global, Barclays Research Analyst(s) Certification(s): We, Andreas Kolbe, Badr El Moutawakil and Fabian Herold, hereby certify (1) that the views expressed in this research report accurately reflect ourpersonal views about any or all of the subject securities or issuers referred to in this research report and (2) no part of our compensation was, is or willbe directly or indirectly related to the specific recommendations or views expressed in this research report. Important Disclosures: Barclays Research is produced by the Investment Bank of Barclays Bank PLC and itsaffiliates(collectively and each individually, "Barclays"). All authors contributing to this research report are Research Analysts unless otherwise indicated. The publication date at the top of the report reflectsthe local time where the report was produced and maydifferfrom the release date provided in GMT. Availability of Disclosures: For current important disclosures regarding any issuers which are the subject of this research report please refer to https://publicresearch.barclays.com or alternatively send a written request to: Barclays Research Compliance, 745 Seventh Avenue, 13th Floor, New York, NY10019 or call +1-212-526-1072. Barclays Capital Inc. and/or one of itsaffiliatesdoes and seeks to do business with companies covered in its research reports. As a result, investorsshould be aware that Barclays may have a conflict of interest that couldaffectthe objectivity of this report. Barclays Capital Inc. and/or one of itsaffiliatesregularly trades, generally deals as principal and generally provides liquidity (as market maker or otherwise) in the debt securities that are thesubject of this research report (and related derivatives thereof). Barclays trading desks may have either a long and / or short position in such securities,other financial instruments and / or derivatives, which may pose a conflict with the interests of investing customers. Where permitted and subject toappropriate information barrier restrictions, Barclays fixed income research analysts regularly interact with its trading desk personnel regardingcurrent market conditions and prices. Barclays fixed income research analysts receive compensation based on various factors including, but notlimited to, the quality of their work, the overall performance of the firm (including the profitability of the Investment Banking Department), theprofitability and revenues of the Markets business and the potential interest of the firm's investing clients in research with respect to the asset classcovered by the analyst. To the extent that any historical pricing information was obtained from Barclays trading desks, the firm makes norepresentation that it is accurate or complete. All levels, prices and spreads are historical and do not necessarily represent current market levels, pricesor spreads, some or all of which may have changed since the publication of this document. Barclays Research Department produces various types ofresearch including, but not limited to, fundamental analysis, equity-linked analysis, quantitative analysis, and trade ideas. Recommendations andtrade ideas contained in one type of Barclays Research maydifferfrom those contained in other types of Barclays Research, whether as a result ofdifferingtime horizons, methodologies, or otherwise. In order to access Barclays Statement regarding Research Dissemination Policies and Procedures, please refer to https://publicresearch.barclays.com/S/RD.htm. In order to access Barclays Research Conflict Management Policy Statement, p