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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Weekly investor research

US buyback engine sputters: Supply hits an overextended market

Record US tech issuance lands on an over-extended market of stretched valuations and positioning. Markets now price two Fed hikes ahead of Warsh's first meeting on 17 June, as India opens to foreign investors and South Korea moves to support the Won.
Video

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.

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Four Horsemen of the Apocalypse, oil on canvas painting by Viktor Vasnetsov, 1887.
Video

WEBINAR: Plague, War, Famine and the Fed.

The Four Horsemen of Macro Apocalypse, and Opportunities in Emerging Markets - How the four main headwinds for equities are fading and our view on where to be positioned.
Policy makers
Weekly investor research

Busy summer for policy-makers

The momentary easing in financial conditions seen in July is now behind us. Global economic challenges continue to demand a decisive response and policy-makers everywhere must make difficult choices. Europe is under pressure from high gas prices, while...
ESG
The Emerging View

The reality of ESG integration in Emerging Markets equity

Successful investing in Emerging Markets is inextricably linked to a deep understanding of Environmental, Social and Governance (ESG) factors. Developing countries are likely to face a disproportionate impact from some of the sustainability challenges...
Ashmore video
Video

'EM in 10' update - August 2022

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.
Recession next exit
Weekly investor research

Mixed news flow across EM as DM PMIs flashed recession

The flash PMIs declined more than expected in Europe and the United States, with most forward-looking indicators below 50.0 levels. Russia agreed a deal to safeguard exports of grain from Ukraine and restarted gas flows from Nord Stream 1 pipeline but...
Grain cargo ship
Weekly investor research

The war of attrition grinds on in Ukraine

The war of attrition grinds on in Ukraine as Europe tries to normalise gas flows and open ports for grains. China’s challenges were compounded by boycotts on mortgages for unfinished projects. Argentina’s finance minister announced its new economic plans.
Ashmore video
Video

'EM in 10' update - July 2022

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.
Ashmore video
Video

Emerging Market Debt | Masterclass

It has been a tough start to 2022 for emerging market debt, but what could the future have in store for the months and years ahead? Ashmore’s Head of Research, Gustavo Medeiros, took part in the Asset TV Masterclass.
Recession warning
Weekly investor research

Recession signals in DM, whilst EM activity recovers

Manufacturing PMIs improved in Hungary, Colombia, Mexico and China and remained at solid levels across most countries, standing in contrast with the US and Europe where manufacturing PMIs have declined fast. Russia gains further territory in Ukraine.
Mountain hike
Weekly investor research

Hike while you can: Flash PMIs in Europe and US declined fast

The risk of an energy crisis in Europe increased further as the G7 discussed a price cap on imports of oil from Russia and economic activity surprised to the downside in both Europe and the United States, led by very poor flash PMI surveys. Chinese...
Gas pipes
Weekly investor research

Sadly, a more hawkish Fed can’t stop the war in Ukraine

The situation on the ground in Ukraine continues to suggest a protracted war of attrition for longer as gas flows to Europe get disrupted. Gustavo Petro won the presidential race in Colombia but will have to govern with a minority in parliament. Covid...
Rising food costs
Weekly investor research

Higher inflation and rates almost everywhere

Inflation surprised to the upside in the United States (US) and Europe but remains subdued across Asia and seems to have peaked in South America. Central banks will soon realise that the current level of interest rates and tightening of financial...
Ashmore video
Video

'EM in 10' update - June 2022

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.