By Gustavo Medeiros, Ben Underhill, Simon Cooke
The Emerging View

Generating impact and returns through EM public debt markets

Global sustainability funding needs are overwhelmingly concentrated in emerging markets, yet impact capital still skews to developed markets. The September Emerging View sets out why EM public debt is the most scalable way to close the gap.

Subscribe to our insights

Subscribe and get notified as soon as we publish our content

The latest insights from our categories

Weekly investor research

Kevin Warsh the hawk

Oil eased as Hormuz flows recovered, but escalation risks stay high ahead of Trump and Xi’s Washington meeting. Plus: the BoJ hikes while the BoE holds, memory chips set to overtake non-memory, Brazil’s polls diverge and Fitch affirms Morocco.
Weekly investor research

AI safety and surging energy prices trigger risk-off mood

Markets price a 90% chance of a Fed hike this week even as CPI details stay benign, while Saudi Arabia shuts its East-West pipeline. Plus: Korea weighs a Hormuz deployment, Brazil’s biggest inflation drop since 2022 and Dangote’s Kenyan refinery.

Latest Insights

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.
Weekly investor research

Market relief as Trump signals progress in Iran negotiations

Trump gave Iran a short Hormuz ultimatum before a brief extension, as Iran hit Qatar’s Ras Laffan. Major central banks held rates with hawkish bias on energy risks, while EM policy diverged amid fuel, trade and election strains.
Weekly investor research

Strait of Hormuz disruption enters third week

Oil shock eased as Brent fell back below USD 100, but Hormuz disruption still hit supply and reserves. Brazil retail surprised positively, while Egypt saw record outflows and political strains deepened in Mexico and Brazil.
Weekly investor research

USD100 oil puts EM outperformance on hold

Oil rose above $100 as Middle East tensions escalated. US payrolls missed badly, China stayed productivity-focused, Indonesia’s outlook was cut, Argentina passed labour reforms, and Poland trimmed rates despite inflation risks.
Weekly investor research

Weeks when decades happen

Reports say US/Israel struck Iran, killing Khamenei; oil +10% but markets calm. CNY travel record, spending middling; Koreans buy local stocks. Argentina labour reform passed; inflation beat in BR/MX/US; IMF reviews ok in Egypt.
The Emerging View

Flows to EM: The end of the beginning

As emerging market (EM) outperformance extends, investors are now frequently asking us about flows to EM assets. In this month’s Emerging View, we review data from Morningstar which confirms our answer: that net inflows have become a reality only since H2
Weekly investor research

Flows to EM assets pick up steam as Korean exports surge

EM inflows keep accelerating; Korean tech exports jump. US tariff uncertainty returns after IEEPA ruling; Fed minutes stay cautious with core PCE elevated. China to offer zero tariffs to 53 African countries from 1 May.
Weekly investor research

AI driving EM stocks up and US stocks down

US data still suggests a “Goldilocks” backdrop as inflation cools; risk sentiment is shaky on AI fears but EM equities remain resilient. In EM, Brazil’s Lula has slipped to 45% approval and Mexico’s central bank held rates at 7.00% with a dovish tilt.
The Emerging View

Latin America: Monroe Doctrine 2.0 amid a transition to the right

With politics shifting back towards the market-friendly right, earnings growth improving and the outlook for commodities becoming structurally bullish given the ongoing arms race for AI, defence and energy, Latin America is again back on investors’ radars
Weekly investor research

USD weakness, JPY strength and more EM outperformance

Yen surged on US Treasury activity amid benign US inflation. India-EU trade and Colombia/Chile fiscal reforms highlight EM shifts. Global diplomacy saw US-Ukraine-Russia talks, while Fitch boosted Türkiye and Gabon resumed IMF engagement.
Weekly investor research

Greenland, tariffs, and yet another case for EU capital repatriation

Trump threatens 10% tariffs on goods from 8 European nations from 1 Feb, rising to 25% by 1 Jun unless Greenland sale talks advance. China posts record surplus; FX flows hint USD weakening. US CPI softer; Argentina/Brazil updates; UAE assets up 23%.
Weekly investor research

Rising geopolitical risks, resilient EM equity performance

EM assets keep outperforming as US jobs data softens. Powell faces DOJ subpoena. Trump ordered Fannie/Freddie to buy $200bn MBS, pushing 30y yields down. Iran protests lifted oil; US shielded Venezuela funds; Argentina $3bn repo; Japan snap poll talk.
Weekly investor research

Emerging Market assets start 2026 strong, Venezuela in focus

US operation in Venezuela seized Maduro; AI rally renewed. Hassett tipped as Trump’s next Fed chair. Russian crude exports hold up via Asia; Korea offers repatriation tax breaks to support won. Argentina passes Milei budget; Fitch: Ukraine up, Gabon down.