JPMorgan is in the advanced stages of launching a new index that will track local currency bonds in frontier markets, as reported by multiple sources including Business Recorder, ProPakistani, and Dawn. This initiative aims to cater to the increasing demand for high-yield, diversified debt options, particularly in the context of a prolonged decline in the US dollar and notable market rallies in countries like Argentina, Ecuador, and Uganda. According to Business Recorder, the proposed index will include 20 to 25 countries, with Pakistan, Egypt, Vietnam, Kenya, Morocco, Kazakhstan, Nigeria, Sri Lanka, and Bangladesh expected to have the largest weightings. This move comes 15 years after JPMorgan introduced its hard-currency NEXGEM frontier index, highlighting a shift towards local currency bonds in emerging markets.