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The last QE trade

Weekly investor research

31 October 2016

EM markets are outperforming developed markets both in normal market conditions and during bouts of serious yield curve steepening in developed economies. The rally in long bonds in developed economies may be the second last of the big QE-sponsored trades. The final QE trade will be to take profits and rotate portfolios into non-QE markets, which now offer better return and less risk.

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Uzbekistan looks set to become the 73rd EMBI GD member

Weekly investor research

18 February 2019

Uzbekistan issued its inaugural sovereign Dollar-denominated bond last week. This means that Uzbekistan will likely become the 73rd EM country in the JP Morgan EMBI GD index. The enormous diversity of...

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Declining inflation re-injects value into EM local bonds

Weekly investor research

11 February 2019

Despite strong performance in January, Emerging Markets (EM) local currency bonds retain their attractiveness due to the continuing decline in inflation in EM countries. Fears of pass-through from last...

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