09:18 AM EDT, 04/23/2026 (MT Newswires) -- JPMorgan (JPM) said in a note to clients Wednesday that it expects to add Philippine peso-denominated government bonds and Saudi riyal-denominated sovereign sukuk to its Government Bond Index-Emerging Markets series starting Jan. 29, 2027.

The bank said the markets will be phased in in equal increments, with the Philippines and Saudi Arabia expected to reach index weights of 1.78% and 2.52%, respectively.

For the Philippine peso bonds, JPMorgan said the decision comes after years of "steady progress"by the country to broaden market access and further develop onshore liquidity channels.

For the riyal-denominated sukuk, it said the inclusion follows a "multi-year effort of sustained reforms by the local authorities to enhance market access for international investors and improve domestic trading capabilities."

JPMorgan also said that country weight caps for the diversified versions of the index will be reduced to 9% from 10% with the inclusion of the new markets. It said China, India, Mexico, Malaysia and Indonesia will see the largest weight reductions.