By Gustavo Medeiros, Ben Underhill
The Emerging View

EM Sovereign Debt: The ultra-marathon runner goes on

Inflation has peaked, the capex supercycle rolls on, and EM fundamentals keep improving. We explain why EM sovereign debt, yielding close to 7%, remains one of the most attractively valued asset classes today.

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Weekly investor research

Hormuz hostilities and a memory stock correction

US-Iran hostilities push oil back to nearly USD 80 and Korean memory stocks fall in a positioning unwind. SK Hynix’s ADRs debut on Nasdaq, China’s central bank adds to gold, and Ukraine secures EUR 140bn in weaponry pledges at the Ankara NATO summit.
Video

WEBINAR: EM Sovereign Debt: The yields are all-right

Watch the replay of this insightful webinar where Gustavo Medeiros (Global Head of Research) and Christian Schniewind (Portfolio Manager for Emerging Markets Debt) discuss their views on EM sovereign debt dynamics.
Weekly investor research

Peak hawkishness

Oil at USD 70 a barrel and softer US payrolls may signal peak hawkishness. The semiconductor rally takes a breather, the World Bank upgrades Vietnam to upper-middle-income status, Brazil lifts its 2026 inflation forecast and Colombia hikes rates to 12.0%.

Latest Insights

Weekly investor research
Weekly investor research

Ships blocked, chips scarce

A large containership blocked the Suez Canal last week, disrupting global trade.
Weekly investor research
Weekly investor research

Transitions

Transitions are noisy, but interesting from an investment perspective.
IMF building
Market Commentary

Missing the big picture on IMF lending

In a recent opinion piece in the Financial Times, Ousmene Mandeng makes the point that the lending programmes of the International Monetary Fund (IMF) are defective.
Weekly investor research
Weekly investor research

Another VIX shock suggests opportunities in EM equities

Last week the Chicago Board Options Exchange Volatility Index, or VIX as it is more commonly known, spiked by 59% to 33.1, impacting asset prices which, in our opinion, make EM equities and EM local bonds look attractive.
EM and the big Biden growth rotation
Market Commentary

EM and the big Biden growth rotation

In addition to bridging deep social divisions in American society, President Joe Biden faces two important policy challenges. One is to eradicate coronavirus. The other is to turn the economy and voter sentiment.