Aerial view of the Christ, The Redeemer Monument and the Corcovado Mountain in Rio de Janeiro, Brazil.
By Gustavo Medeiros, Ben Underhill
The Emerging View

The ‘land of the future’ can’t wait much longer

Brazil’s vast natural resources have helped build a resilient economy, backed by a sophisticated financial system & a well-educated, hyperconnected population. However, persistent political volatility and inefficient public spending have hindered progress

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Temple at Jiufen Old Street in Taipei Taiwan
Weekly investor research

Taiwan dollar’s rally could signal further EMFX strength

US Q1 earnings strong; Q2 outlook weaker. US stagflation fears persist. Taiwan dollar rallies sharply. Oil falls on Saudi supply hike. Korean leader resigns for election. Colombia cuts rates; Brazil eyes tax reform. Simion leads Romania vote...
The United States Capitol in Washington
Weekly investor research

Erratic US policy stance still driving asset prices

Trump eased on China tariffs; EM assets rallied. IMF cut 2025 global growth to 2.8%. Kazakhstan defies OPEC+. India may retaliate vs Pakistan. IMF suspended Colombia credit. Hungary faces media probe. SA cancels VAT hike. ECB hints at more cuts.

Latest Insights

Emerging view
The Emerging View

The case for EM local currency debt

The establishment of local bond markets has been the single most important structural change in Emerging Markets (EM) in the past quarter of a century.
Emerging view
The Emerging View

The case for EM external debt

The case for Emerging Markets external debt is solid. The long-term risk-reward has been and remains compelling. The outlook over the medium-term also favours the asset class as the unwinding of distortions in global bond markets attributable to Quantitat
Emerging view
The Emerging View

Beware of Big Fiscal

Picture yourself in charge of the government of a rich country.
Emerging view
The Emerging View

The 2019-2023 EM fixed income outlook The Emerging View

Emerging Markets (EM) fixed income should deliver compounded returns ranging from 30% to 60% in Dollar terms over the 2019-2023 investment horizon as markets revert to unwinding the so-called QE trades
Emerging view
The Emerging View

US late cycle dynamics and EM bonds

The recent volatility in US stocks may be a warning that the US business cycle expansion is moving into its late stages.
Market commentary
Market Commentary

Convergence, Big Time

A new study shows strong empirical evidence in favour of Emerging Markets (EM) economic convergence, which is arguably the single most important fundamental rationale for allocating to the EM asset class.
Emerging view
The Emerging View

Déjà vu 2002

The 2018 sell-off in EM local markets is more than a mere conventional ‘buy the dip’ opportunity.
Emerging view
The Emerging View

The EM equity universe: 7 implications of evolution

The size of the Emerging Markets (EM) equity universe is significant. It is evolving quickly and becoming more sophisticated as EM broaden, deepen and liberalise, better reflecting their underlying economic growth drivers.