By Gustavo Medeiros, Ben Underhill
The Emerging View

EM Sovereign Debt: The ultra-marathon runner goes on

Inflation has peaked, the capex supercycle rolls on, and EM fundamentals keep improving. We explain why EM sovereign debt, yielding close to 7%, remains one of the most attractively valued asset classes today.

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WEBINAR: EM Sovereign Debt: The yields are all-right

Watch the replay of this insightful webinar where Gustavo Medeiros (Global Head of Research) and Christian Schniewind (Portfolio Manager for Emerging Markets Debt) discuss their views on EM sovereign debt dynamics.
Weekly investor research

Peak hawkishness

Oil at USD 70 a barrel and softer US payrolls may signal peak hawkishness. The semiconductor rally takes a breather, the World Bank upgrades Vietnam to upper-middle-income status, Brazil lifts its 2026 inflation forecast and Colombia hikes rates to 12.0%.
Weekly investor research

Falling oil prices bring nominal rates lower and real rates higher

Falling oil prices are pulling inflation expectations and nominal rates lower, while resilient US growth lifts real rates higher. We also cover dramatic semiconductor volatility, record Korean chipmaker capex and Vietnam's expansionary fiscal plans.

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Market commentary
Market Commentary

Is DM bond issuance ‘crowding out’ EM?

As the twin burdens of coronavirus and late business cycle dynamics increasingly weigh on growth prospects in developed markets (DMs), governments have been quick to spend more.
Weekly investor research
Weekly investor research

Twists and turns in US-China tensions

In the latest in US-China tensions, a US court blocked the proposed closure of WeChat, while Bytedance kept a majority shareholding position and control over its algorithm in TikTok.
Weekly investor research
Weekly investor research

EM assets outperformed despite strong correction in US tech

Equity markets declined on the back of a sharp correction in US technology stocks, but EM assets outperformed. Brazil renewed emergency support for poor families and presented an administrative reform to Congress.
Weekly investor research
Weekly investor research

The Fed turns to inflation

The Fed’s adoption of an average inflation target is important for EM investors; we explain why.