Uruguay government bonds
Uruguay'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 | 81 bp | 87 bp | 6.6% | +20 bp | 5.50% | $550.5M |
| UYU Own-currency bonds | own currency: yield only, no default number | 7 | — | — | — | — | 6.66% | $95.0M |
| CHF Other foreign-currency bonds | own currency: yield only, no default number | 2 | — | — | — | — | — | $4.9M |
| JPY Other foreign-currency bonds | own currency: yield only, no default number | 1 | — | — | — | — | — | $477K |
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.
Uruguay's USD curve
Yield to maturity of each USD bond US funds hold (10 bonds, government and government-related issuers, index-linked excluded), Jul 2026 fund marks. Hover a point for the bond.
Uruguay's UYU curve
Yield to maturity of each UYU bond US funds hold (7 bonds, government and government-related issuers, index-linked excluded), Jul 2026 fund marks. Hover a point for the bond.
Who holds Uruguay's debt
Fund series holding Uruguay's government and government-related bonds in their latest quarterly report: 271 now, 274 a quarter earlier. Names as reported in the filings.
| Fund series | Report | Bonds | Face value | Value |
|---|---|---|---|---|
| iShares J.P. Morgan USD Emerging Markets Bond ETF | 2026-07-31 | 7 | $323.0M | $306.3M |
| VANGUARD TOTAL BOND MARKET INDEX FUND | 2026-06-30 | 9 | $202.0M | $198.3M |
| VANGUARD TOTAL BOND MARKET II INDEX FUND | 2026-06-30 | 9 | $192.4M | $189.2M |
| Templeton Global Bond Fund | 2026-06-30 | 1 | $3.46B | $96.2M |
| VANGUARD EMERGING MARKETS GOVERNMENT BOND INDEX FUND | 2026-07-31 | 10 | $88.5M | $84.9M |
| iShares Core U.S. Aggregate Bond ETF | 2026-05-31 | 9 | $79.0M | $78.0M |
| Loomis Sayles Core Plus Bond Fund | 2026-06-30 | 4 | $2.67B | $71.1M |
| MFS Emerging Markets Debt Fund | 2026-07-31 | 4 | $739.4M | $68.8M |
| VanEck J.P. Morgan EM Local Currency Bond ETF | 2026-06-30 | 5 | $2.14B | $56.5M |
| Fidelity U.S. Bond Index Fund | 2026-05-31 | 5 | $47.3M | $45.7M |
| T. Rowe Price Emerging Markets Bond Fund | 2026-06-30 | 2 | $46.5M | $45.3M |
| Templeton Global Bond VIP Fund | 2026-06-30 | 1 | $1.49B | $41.5M |
| VANGUARD INTERMEDIATE-TERM BOND INDEX FUND | 2026-06-30 | 2 | $30.0M | $32.5M |
| iShares J.P. Morgan EM Local Currency Bond ETF | 2026-07-31 | 4 | $1.05B | $27.5M |
| American Beacon Developing World Income Fund | 2026-07-31 | 5 | $1.03B | $27.4M |
| BlackRock Strategic Income Opportunities Portfolio | 2026-06-30 | 3 | $1.01B | $27.2M |
| Fidelity Series Bond Index Fund | 2026-05-31 | 5 | $23.8M | $23.5M |
| Bridge Builder Core Plus Bond Fund | 2026-06-30 | 3 | $870.9M | $22.9M |
| JPMorgan Emerging Markets Debt Fund | 2026-05-31 | 3 | $142.5M | $21.9M |
| Fidelity New Markets Income Fund | 2026-06-30 | 2 | $21.6M | $20.7M |
ETFs holding Uruguay'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 | 7 | $306.3M | 2.10% |
| BND VANGUARD TOTAL BOND MARKET INDEX FUND | 2026-06-30 | 9 | $198.3M | 0.05% |
| VWOB VANGUARD EMERGING MARKETS GOVERNMENT BOND INDEX FUND | 2026-07-31 | 10 | $84.9M | 1.27% |
| AGG iShares Core U.S. Aggregate Bond ETF | 2026-05-31 | 9 | $78.0M | 0.06% |
| EMLC VanEck J.P. Morgan EM Local Currency Bond ETF | 2026-06-30 | 5 | $56.5M | 1.16% |
| BIV VANGUARD INTERMEDIATE-TERM BOND INDEX FUND | 2026-06-30 | 2 | $32.5M | 0.06% |
| LEMB iShares J.P. Morgan EM Local Currency Bond ETF | 2026-07-31 | 4 | $27.5M | 3.85% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 10 | $20.6M | 0.05% |
| XEMD BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF | 2026-07-31 | 4 | $14.9M | 1.77% |
| BLV VANGUARD LONG-TERM BOND INDEX FUND | 2026-06-30 | 5 | $14.2M | 0.16% |
| BSV VANGUARD SHORT-TERM BOND INDEX FUND | 2026-06-30 | 2 | $12.3M | 0.02% |
| SCHZ Schwab U.S. Aggregate Bond ETF | 2026-06-30 | 9 | $5.7M | 0.05% |
| SPAB State Street(R) SPDR(R) Portfolio Aggregate Bond ETF | 2026-06-30 | 8 | $5.1M | 0.05% |
| EMHC State Street(R) SPDR(R) Bloomberg Emerging Markets USD Bond ETF | 2026-06-30 | 8 | $4.5M | 1.65% |
| JEMB Janus Henderson Emerging Markets Debt Hard Currency ETF | 2026-07-31 | 2 | $3.9M | 0.89% |
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.