By Gustavo Medeiros, Ben Underhill
The Emerging View

The AI Supercycle and Bottlenecks: A Multi-year Tailwind for EM

As AI compute demand scales, the worry has shifted from overbuilding to scarcity. Can energy and chip supply keep pace, or will bottlenecks throttle the capex cycle? We map the constraints and their implications for emerging markets.

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WEBINAR: Emerging Markets: beyond the AI trade

Watch the replay: Gustavo Medeiros (Global Head of Research) and Dhiren Shah (Head of Emerging Markets Equity Strategy) discuss their views on EM opportunities, whether the AI trade has room to run and what it could mean for countries, sectors and stocks.
Weekly investor research

The right edges ahead in the Colombian presidential race

A rightward tide is reshaping Latin American politics: De La Espriella tops Colombia's first round, Fujimori leads Peru's runoff polls, and Caputo predicts a comfortable Milei re-election in Argentina.
Weekly investor research

Deal or no deal?

The US strikes Iranian military assets after Trump signals a deal is close. Aramco preps its largest privatisation to date, South Korea seeds a sovereign wealth fund with semiconductor tax revenue, and UAE investment in the US tops USD 1trn.

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Emerging view
The Emerging View

US late cycle dynamics and EM bonds

The recent volatility in US stocks may be a warning that the US business cycle expansion is moving into its late stages.
Market commentary
Market Commentary

Convergence, Big Time

A new study shows strong empirical evidence in favour of Emerging Markets (EM) economic convergence, which is arguably the single most important fundamental rationale for allocating to the EM asset class.
Emerging view
The Emerging View

Déjà vu 2002

The 2018 sell-off in EM local markets is more than a mere conventional ‘buy the dip’ opportunity.
Emerging view
The Emerging View

The EM equity universe: 7 implications of evolution

The size of the Emerging Markets (EM) equity universe is significant. It is evolving quickly and becoming more sophisticated as EM broaden, deepen and liberalise, better reflecting their underlying economic growth drivers.
Market commentary
Market Commentary

Saudi Arabia’s Big Year

It was announced on 28 March that Saudi Arabia will be a constituent of the FTSE Emerging Markets index.
Market commentary
Market Commentary

The limits of protectionism

Last night the US government announced details of a USD 50bn package of tariffs on Chinese imports.
Market commentary
Market Commentary

Second Chance Saloon

Emerging Markets equity investors have once again over reacted to Developed Market events.