Data center server racks.
By Gustavo Medeiros, Ben Underhill
The Emerging View

The inconvenient truth behind US exceptionalism

This month’s EV quantifies the magnitude of fiscal stimulus which turns out to be surprisingly close to the market capitalisation surge over the past eight years. US exceptionalism now has a disruption narrative with DeepSeek...

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A security fence built around a 3d map of the USA with signs "Tariffs" and 10%, 30%, 80%, 100%.
Weekly investor research

Trump pulls the tariff trigger

Trump imposes new tariffs on Canada, Mexico, and China. Investors assess DeepSeek’s AI impact. India unveils 2025 budget. Political shifts in Argentina. Brazil commits to deficit cuts. Colombia plans tax reform. Panama affirms canal control.
Data center server racks.
The Emerging View

The inconvenient truth behind US exceptionalism

This month’s EV quantifies the magnitude of fiscal stimulus which turns out to be surprisingly close to the market capitalisation surge over the past eight years. US exceptionalism now has a disruption narrative with DeepSeek...
Popular AI virtual assistant apps on a smartphone
Weekly investor research

DeepSeek impacts AI industry and EM

EM gains as tariffs ease (except Colombia). DeepSeek impacts AI supply chains. Trump-Putin talk Ukraine. Strong Asian exports; Indonesia reforms. Argentina pushes markets. LATAM leftists under pressure. Türkiye cuts rates; Egypt plans Eurobonds...

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Credit Suisse
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Challenging trade-offs

Credit Suisse was acquired by UBS over the weekend, but there was little market respite as the deal exposed possible capital structure vulnerabilities within the global banking system...
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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...
Ashmore video
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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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Weekly investor research

Hawks deliver a one-two strike

Global equity markets attempt to rise after consumer price index (CPI) inflation was lower than expected across the world, with US equities rallying sharply after its CPI release last Tuesday. However, stocks sold off after the “one-two hawk strike” by...