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

Oil down and risk assets up as US/Iran deal approaches

Risk assets rally and oil falls as a US/Iran deal nears. The ECB delivers its first rate hike in three years, US CPI lands in line as jobs surprise higher, Korean exports jump 46% year on year, and S&P upgrades Argentina to 'B-'.
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.

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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.