Aerial view of the Christ, The Redeemer Monument and the Corcovado Mountain in Rio de Janeiro, Brazil.
By Gustavo Medeiros, Ben Underhill
The Emerging View

The ‘land of the future’ can’t wait much longer

Brazil’s vast natural resources have helped build a resilient economy, backed by a sophisticated financial system & a well-educated, hyperconnected population. However, persistent political volatility and inefficient public spending have hindered progress

Subscribe to our insights

Subscribe and get notified as soon as we publish our content

The latest insights from our categories

Temple at Jiufen Old Street in Taipei Taiwan
Weekly investor research

Taiwan dollar’s rally could signal further EMFX strength

US Q1 earnings strong; Q2 outlook weaker. US stagflation fears persist. Taiwan dollar rallies sharply. Oil falls on Saudi supply hike. Korean leader resigns for election. Colombia cuts rates; Brazil eyes tax reform. Simion leads Romania vote...
The United States Capitol in Washington
Weekly investor research

Erratic US policy stance still driving asset prices

Trump eased on China tariffs; EM assets rallied. IMF cut 2025 global growth to 2.8%. Kazakhstan defies OPEC+. India may retaliate vs Pakistan. IMF suspended Colombia credit. Hungary faces media probe. SA cancels VAT hike. ECB hints at more cuts.

Latest Insights

Market commentary
Market Commentary

Chinese bonds deliver in bear markets

Chinese local currency government bonds are entering JP Morgan’s EM local bond index, the GBI-EM GD, at the end of this month.
Weekly investor research
Weekly investor research

The option value of waiting

High levels of uncertainty are not only associated with a scarcity of facts, but also with high trading costs.
Market commentary
Market Commentary

The power of carry

Quantitative Easing (QE) policies in developed countries triggered a flight from yield in Emerging Markets (EM) as investors pursued capital gains in developed markets instead.
Weekly investor research
Weekly investor research

Habemus trade deals

The signing of the phase one trade deal between the United States (US) and China and the ratification of USMCA by the US Senate reduced tail risks and boosted short term market sentiment.
Weekly investor research
Weekly investor research

Delightful diversification

Often underappreciated, the benefits of diversification in external debt were richly on display in 2019, when the asset class returned 15% despite significant volatility in a number of EM countries, including Argentina.
Emerging view
The Emerging View

The 2020-2024 EM fixed income outlook

Following another year of strong returns, EM fixed income has outperformed developed bond markets by a significant margin over the past four years.
Market commentary
Market Commentary

The opportunity of EM real estate

Lower interest rates in the aftermath of the Global Financial Crisis are increasing the affordability of real estate while rendering conventional liquid fixed income in developed economies (DM) less attractive.