North Macedonia government bonds
North Macedonia's bonds as US funds mark them in their filings (SEC Form N-PORT), by currency. Fund marks as of Jul 2026; they lag the market by about two months.
By currency
| Bonds | Measured against | Count | Spread | 10-year spread | Priced-in 5y odds | 1-month change | Median yield | Held by US funds |
|---|---|---|---|---|---|---|---|---|
| EUR Euro bonds of non-euro countries | vs German Bunds | 6 | 162 bp | 185 bp | 12.7% | -18 bp | 4.60% | $11.4M |
Priced-in odds = spread ÷ (1 − 40% recovery) over five years; it includes a risk premium and overstates actual defaults. Own-currency bonds get a yield and no odds: a government can print its own currency.
EUR spread history
Median spread vs German Bunds, month-ends with complete filings. Fund-reported.
North Macedonia's EUR curve
Yield to maturity of each EUR bond US funds hold (6 bonds, government and government-related issuers, index-linked excluded), Jul 2026 fund marks. Hover a point for the bond.
Who holds North Macedonia's debt
Fund series holding North Macedonia's government and government-related bonds in their latest quarterly report: 48 now, 52 a quarter earlier. Names as reported in the filings.
| Fund series | Report | Bonds | Face value | Value |
|---|---|---|---|---|
| T. Rowe Price International Bond Fund (USD Hedged) | 2026-06-30 | 3 | $11.8M | $13.5M |
| PIMCO Emerging Markets Bond Fund | 2026-06-30 | 2 | $8.0M | $9.3M |
| American Funds Emerging Markets Bond Fund | 2026-06-30 | 2 | $5.3M | $6.1M |
| The Hartford World Bond Fund | 2026-07-31 | 1 | $3.9M | $4.5M |
| T. Rowe Price Global Multi-Sector Bond Fund, Inc. | 2026-05-31 | 2 | $3.5M | $4.1M |
| JPMorgan Global Bond Opportunities Fund | 2026-05-31 | 1 | $3.4M | $3.9M |
| Six Circles Credit Opportunities Fund | 2026-06-30 | 1 | $3.3M | $3.8M |
| Capital World Bond Fund | 2026-06-30 | 1 | $3.2M | $3.7M |
| DWS Short Duration Fund | 2026-06-30 | 1 | $3.0M | $3.4M |
| GMO Emerging Country Debt Fund | 2026-05-31 | 1 | $2.9M | $3.3M |
| Janus Henderson Emerging Markets Debt Hard Currency ETF | 2026-07-31 | 2 | $2.1M | $2.4M |
| American Funds Multi-Sector Income Fund | 2026-06-30 | 1 | $2.0M | $2.3M |
| JPMorgan Emerging Markets Debt Fund | 2026-05-31 | 1 | $1.9M | $2.2M |
| T. Rowe Price International Bond Fund | 2026-06-30 | 3 | $1.6M | $1.9M |
| JPMorgan International Bond Opportunities ETF | 2026-05-31 | 1 | $1.4M | $1.6M |
| PIMCO Emerging Markets Bond Portfolio | 2026-06-30 | 2 | $800K | $922K |
| Putnam Diversified Income Trust | 2026-06-30 | 1 | $650K | $740K |
| SIIT EMERGING MARKETS DEBT FUND | 2026-05-31 | 1 | $620K | $712K |
| Franklin Low Duration Total Return Fund | 2026-07-31 | 1 | $590K | $672K |
| JPMorgan Flexible Debt ETF | 2026-05-31 | 1 | $566K | $649K |
ETFs holding North Macedonia's bonds
From each ETF's own latest N-PORT report, as a share of its net assets. A holdings list, not a recommendation.
| ETF | Report | Bonds | Value | % of net assets |
|---|---|---|---|---|
| JEMB Janus Henderson Emerging Markets Debt Hard Currency ETF | 2026-07-31 | 2 | $2.4M | 0.56% |
| JPIB JPMorgan International Bond Opportunities ETF | 2026-05-31 | 1 | $1.6M | 0.08% |
| JFLX JPMorgan Flexible Debt ETF | 2026-05-31 | 1 | $649K | 0.05% |
| CGIB Capital Group International Bond ETF (USD-Hedged) | 2026-06-30 | 1 | $141K | 0.05% |
| TMSF T. Rowe Price Multi-Sector Income ETF | 2026-05-31 | 1 | $119K | 0.41% |
Sources: fund holdings and fund-reported marks from SEC Form N-PORT (published about 60 days after each month-end); 13F filings; House and Senate periodic transaction reports and OGE Form 278-T; Treasury yields from FRED. Findings from filings, not advice. How each number is computed.