Paraguay government bonds
Paraguay'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 |
|---|---|---|---|---|---|---|---|---|
| USD Emerging markets, US-dollar bonds | vs US Treasuries | 17 | 114 bp | 113 bp | 9.1% | +13 bp | 5.70% | $271.4M |
| PYG Other foreign-currency bonds | own currency: yield only, no default number | 6 | — | — | — | — | 9.02% | $125.9M |
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.
USD spread history
Median spread vs US Treasuries, month-ends with complete filings. Fund-reported.
Paraguay's PYG curve
Yield to maturity of each PYG bond US funds hold (6 bonds, government and government-related issuers, index-linked excluded), Jul 2026 fund marks. Hover a point for the bond.
Paraguay's USD curve
Yield to maturity of each USD bond US funds hold (17 bonds, government and government-related issuers, index-linked excluded), Jul 2026 fund marks. Hover a point for the bond.
Who holds Paraguay's debt
Fund series holding Paraguay's government and government-related bonds in their latest quarterly report: 238 now, 241 a quarter earlier. Names as reported in the filings.
| Fund series | Report | Bonds | Face value | Value |
|---|---|---|---|---|
| VANGUARD EMERGING MARKETS BOND FUND | 2026-06-30 | 4 | $105.5M | $108.0M |
| MFS Emerging Markets Debt Fund | 2026-07-31 | 5 | $181.09B | $103.3M |
| T. Rowe Price Emerging Markets Bond Fund | 2026-06-30 | 9 | $21.32B | $52.5M |
| VanEck J.P. Morgan EM Local Currency Bond ETF | 2026-06-30 | 5 | $323.71B | $51.4M |
| iShares J.P. Morgan USD Emerging Markets Bond ETF | 2026-07-31 | 2 | $45.8M | $42.4M |
| American Beacon Developing World Income Fund | 2026-07-31 | 6 | $234.56B | $37.9M |
| VANGUARD STAR CORE-PLUS BOND FUND | 2026-07-31 | 2 | $34.7M | $34.3M |
| VANGUARD EMERGING MARKETS GOVERNMENT BOND INDEX FUND | 2026-07-31 | 10 | $32.5M | $31.1M |
| Fidelity New Markets Income Fund | 2026-06-30 | 6 | $26.7M | $26.1M |
| iShares J.P. Morgan EM Local Currency Bond ETF | 2026-07-31 | 3 | $130.58B | $21.1M |
| PIMCO Emerging Markets Bond Fund | 2026-06-30 | 11 | $36.76B | $16.1M |
| Six Circles Credit Opportunities Fund | 2026-06-30 | 7 | $20.63B | $14.7M |
| JPMorgan Income Fund | 2026-05-31 | 1 | $14.1M | $14.2M |
| Strategic Advisers Fidelity Core Income Fund | 2026-05-31 | 6 | $14.5M | $14.1M |
| BlackRock Strategic Income Opportunities Portfolio | 2026-06-30 | 3 | $81.35B | $14.0M |
| PIMCO Emerging Markets Local Currency and Bond Fund | 2026-06-30 | 5 | $75.00B | $11.9M |
| JPMorgan Core Plus Bond Fund | 2026-05-31 | 2 | $13.0M | $11.9M |
| Western Asset Emerging Markets Debt Fund Inc. | 2026-06-30 | 3 | $22.03B | $11.1M |
| Fidelity Emerging Markets Debt Central Fund | 2026-06-30 | 5 | $11.0M | $10.8M |
| iShares Flexible Income Active ETF | 2026-07-31 | 2 | $24.22B | $10.6M |
ETFs holding Paraguay'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 |
|---|---|---|---|---|
| EMLC VanEck J.P. Morgan EM Local Currency Bond ETF | 2026-06-30 | 5 | $51.4M | 1.06% |
| EMB iShares J.P. Morgan USD Emerging Markets Bond ETF | 2026-07-31 | 2 | $42.4M | 0.29% |
| VWOB VANGUARD EMERGING MARKETS GOVERNMENT BOND INDEX FUND | 2026-07-31 | 10 | $31.1M | 0.47% |
| LEMB iShares J.P. Morgan EM Local Currency Bond ETF | 2026-07-31 | 3 | $21.1M | 2.95% |
| JPIE JPMorgan Income ETF | 2026-05-31 | 4 | $8.3M | 0.09% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 9 | $7.5M | 0.02% |
| JEMB Janus Henderson Emerging Markets Debt Hard Currency ETF | 2026-07-31 | 5 | $5.6M | 1.30% |
| JCPB JPMorgan Core Plus Bond ETF | 2026-05-31 | 2 | $5.2M | 0.04% |
| JPIB JPMorgan International Bond Opportunities ETF | 2026-05-31 | 2 | $3.6M | 0.18% |
| VPLS VANGUARD CORE-PLUS BOND ETF | 2026-06-30 | 2 | $2.7M | 0.16% |
| VCRB VANGUARD CORE BOND ETF | 2026-06-30 | 1 | $2.5M | 0.03% |
| FBND Fidelity Total Bond ETF | 2026-05-31 | 5 | $2.4M | 0.01% |
| EMBX VanEck Emerging Markets Bond ETF | 2026-06-30 | 1 | $1.2M | 0.51% |
| JFLX JPMorgan Flexible Debt ETF | 2026-05-31 | 3 | $1.1M | 0.08% |
| VSDB VANGUARD SHORT DURATION BOND ETF | 2026-06-30 | 1 | $950K | 0.11% |
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.