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

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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.

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Staying the course

Central banks in the United States (US) and United Kingdom (UK) hiked their policy rates, but framed their forward guidance as data-dependent, mostly due to risks of a significant deterioration in credit conditions. The flash Purchasing Manager Indices...
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Challenging trade-offs

Credit Suisse was acquired by UBS over the weekend, but there was little market respite as the deal exposed possible capital structure vulnerabilities within the global banking system...
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Navigating a turbulent environment: EM IG to the rescue

Economic growth and inflation have surprised to the upside so far in 2023, not only thanks to the reopening of the Chinese economy, but also due to the resilience of the labour markets. The combination of a resilient economy and inflation has boosted...
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Weekly investor research

It’s so hard to read the economy!

Leading indicators in February suggested global manufacturing slowed but services advanced after inflation was higher than expected in January – a confusing read for global macro dynamics. China called for a ceasefire and peace process in Ukraine but...
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WEBINAR: China real estate update

Adrian Petreanu, Portfolio Manager for Emerging Markets Corporate Debt, and Gustavo Medeiros, Ashmore’s Global Head of Research discuss recent developments in the China Real Estate market and the opportunities they believe we will see in the...
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Weekly investor research

Is a Ukraine ceasefire likely?

Meetings and public statements suggest an attempt to build multilateral support for a ceasefire in Ukraine. China’s Xi Jinping wrote an article in support of boosting income for his country’s low and middle classes as well as supporting its real estate...
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Ashmore Emerging Markets Equity Fund 5 year anniversary!

The past 5 years in Emerging Markets (EM) have been challenging, impacted by a series of global macroeconomic shocks triggering elevated market volatility and gyrations in market leadership. This was exemplified by the MSCI EM returning close to 0%...
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Disaster hits Turkey

Turkey was hit by a disastrous earthquake a few months before a key presidential election. Brazil debates its inflation target as political pressure on its central bank increased. China’s credit creation was stronger than expected, boosting hopes for...
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Greed is back!

Global central banks delivered a hawkish tone, but market moves were mostly related to positioning...
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'EM in 10' update - February 2023

Gustavo Medeiros, Ashmore’s Head of Research, answers some timely questions about recent events and performance in Emerging Markets for our 'EM in 10' monthly video review.
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Our year of two halves thesis stays intact

Chinese stocks’ outperformance extended in 2023, allowing for another relief rally into Developed Markets (DM) stocks. Argentina announced a bond buyback. Political noise remained loud in Brazil...
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Weekly investor research

Hopes of an economic rebound in China float many boats

An encouraging start to 2023, as the re-opening of China’s economy goes ahead. A new year, a rebirth of EM primary market issuance. The storming of the Federal District by supporters of ex-president Bolsonaro in Brazil echoes the similar event on 6 Jan...