Serbia government bonds
Serbia'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 | 10 | 141 bp | 147 bp | 11.1% | +20 bp | 5.88% | $362.7M |
| EUR Euro bonds of non-euro countries | vs German Bunds | 11 | 175 bp | 186 bp | 13.6% | +14 bp | 4.79% | $173.1M |
| RSD Own-currency bonds | own currency: yield only, no default number | 4 | — | — | — | — | 5.33% | $118.2M |
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.
EUR spread history
Median spread vs German Bunds, month-ends with complete filings. Fund-reported.
Serbia's EUR curve
Yield to maturity of each EUR bond US funds hold (12 bonds, government and government-related issuers, index-linked excluded), Jul 2026 fund marks. Hover a point for the bond.
Serbia's RSD curve
Yield to maturity of each RSD bond US funds hold (4 bonds, government and government-related issuers, index-linked excluded), Jul 2026 fund marks. Hover a point for the bond.
Serbia's USD curve
Yield to maturity of each USD bond US funds hold (11 bonds, government and government-related issuers, index-linked excluded), Jul 2026 fund marks. Hover a point for the bond.
Who holds Serbia's debt
Fund series holding Serbia's government and government-related bonds in their latest quarterly report: 246 now, 212 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 | 5 | $5.07B | $193.9M |
| iShares J.P. Morgan USD Emerging Markets Bond ETF | 2026-07-31 | 4 | $103.3M | $99.6M |
| T. Rowe Price Dynamic Global Bond Fund | 2026-06-30 | 3 | $10.17B | $98.1M |
| PGIM Total Return Bond Fund | 2026-07-31 | 7 | $94.6M | $96.1M |
| VANGUARD SHORT-TERM INVESTMENT-GRADE FUND | 2026-07-31 | 3 | $93.3M | $90.3M |
| T. Rowe Price Emerging Markets Bond Fund | 2026-06-30 | 3 | $60.0M | $62.2M |
| VANGUARD EMERGING MARKETS BOND FUND | 2026-06-30 | 2 | $61.2M | $61.3M |
| VanEck J.P. Morgan EM Local Currency Bond ETF | 2026-06-30 | 5 | $6.12B | $60.3M |
| MFS Emerging Markets Debt Fund | 2026-07-31 | 3 | $59.7M | $58.5M |
| Invesco Emerging Markets Sovereign Debt ETF | 2026-07-31 | 3 | $39.7M | $39.6M |
| PIMCO Total Return Fund | 2026-06-30 | 2 | $31.9M | $31.8M |
| Global Opportunities Portfolio | 2026-07-31 | 1 | $3.32B | $31.2M |
| Fidelity New Markets Income Fund | 2026-06-30 | 5 | $28.0M | $27.6M |
| iShares J.P. Morgan EM Local Currency Bond ETF | 2026-07-31 | 4 | $2.77B | $27.5M |
| VANGUARD EMERGING MARKETS GOVERNMENT BOND INDEX FUND | 2026-07-31 | 6 | $28.1M | $27.3M |
| Global Macro Absolute Return Advantage Portfolio | 2026-07-31 | 2 | $2.35B | $24.4M |
| T. Rowe Price Global Multi-Sector Bond Fund, Inc. | 2026-05-31 | 3 | $19.6M | $22.1M |
| GMO Emerging Country Debt Fund | 2026-05-31 | 2 | $21.4M | $21.2M |
| THE HARTFORD BALANCED INCOME FUND | 2026-07-31 | 10 | $21.4M | $20.9M |
| Lord Abbett Short Duration Income Fund | 2026-05-31 | 1 | $20.0M | $20.5M |
ETFs holding Serbia'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 |
|---|---|---|---|---|
| EMB iShares J.P. Morgan USD Emerging Markets Bond ETF | 2026-07-31 | 4 | $99.6M | 0.68% |
| EMLC VanEck J.P. Morgan EM Local Currency Bond ETF | 2026-06-30 | 5 | $60.3M | 1.24% |
| PCY Invesco Emerging Markets Sovereign Debt ETF | 2026-07-31 | 3 | $39.6M | 2.86% |
| LEMB iShares J.P. Morgan EM Local Currency Bond ETF | 2026-07-31 | 4 | $27.5M | 3.84% |
| VWOB VANGUARD EMERGING MARKETS GOVERNMENT BOND INDEX FUND | 2026-07-31 | 6 | $27.3M | 0.41% |
| EMHY iShares J.P. Morgan EM High Yield Bond ETF | 2026-07-31 | 4 | $6.6M | 1.06% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 5 | $6.5M | 0.01% |
| XEMD BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF | 2026-07-31 | 2 | $5.1M | 0.60% |
| VCRB VANGUARD CORE BOND ETF | 2026-06-30 | 2 | $3.8M | 0.05% |
| FBND Fidelity Total Bond ETF | 2026-05-31 | 3 | $2.4M | 0.01% |
| EMBD Global X Emerging Markets Bond ETF | 2026-05-31 | 1 | $2.2M | 0.87% |
| DIAL Columbia Diversified Fixed Income Allocation ETF | 2026-07-31 | 1 | $2.1M | 0.54% |
| JPIE JPMorgan Income ETF | 2026-05-31 | 3 | $1.7M | 0.02% |
| PTRB PGIM Total Return Bond ETF | 2026-05-29 | 3 | $1.6M | 0.16% |
| EMHC State Street(R) SPDR(R) Bloomberg Emerging Markets USD Bond ETF | 2026-06-30 | 3 | $1.5M | 0.55% |
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.