Strait of Hormuz
By Gustavo Medeiros, Ben Underhill
The Emerging View

The Strait of Hormuz & the Vix shock

Emerging View examines the Strait of Hormuz tail-risk, rising energy prices and supply strains, comparing today’s backdrop with past oil shocks and assessing what the Iran-US conflict could mean for emerging market assets.

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Weekly investor research

Regime change in Hungary and positive election results in Peru

Markets focused on politics, energy and AI: Hungary and Peru point to more market-friendly outcomes, US pressure on Iranian oil raises risk, AI-led growth remains strong from the US to Korea, while Colombia was downgraded and Turkey’s outlook softened.
Video

WEBINAR: How are EM Frontier debt markets holding up?

Watch the replay of this insightful webinar where Gustavo Medeiros, Global Head of Research, and Alexis de Mones, Portfolio Manager for Emerging Markets Debt, discussed their views on the resilience of EM Frontier debt markets in the current environment.
Weekly investor research

Risk asset recovery on thin ice

Risk assets have rebounded since last Tuesday, but risks remain high as Trump’s Iran deadline looms. Strong US payrolls suggest the cyclical upswing remains intact, while several EM policymakers kept a cautious stance on rates, fuel and energy.

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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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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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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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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...
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Hawks deliver a one-two strike

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