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By Gustavo Medeiros, Ben Underhill
The Emerging View

South Korea in focus

Korea runs a current account surplus yet the won sits at a 13-year low. We unpack the engineered offshoring behind it, why the policy is now reversing, and why we think the setup for Korean equities looks the strongest since 2007.

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Weekly investor research

Deal or no deal?

The US strikes Iranian military assets after Trump signals a deal is close. Aramco preps its largest privatisation to date, South Korea seeds a sovereign wealth fund with semiconductor tax revenue, and UAE investment in the US tops USD 1trn.
Weekly investor research

Global yields squeeze higher

Brent crude topped USD 110 after Iran's strike on a UAE nuclear plant. S&P upgraded Nigeria to 'B' (first since 2012) but cut Mexico's 'BBB+' outlook to negative. Russia launched its heaviest aerial strikes of the year on Ukraine.
Weekly investor research

The “no war, no peace, no oil” status lives on

Hormuz stalemate as the US rejects Iran's counterproposal. Bank Indonesia rolls out a stabilisation package, Modi calls for FX-preserving austerity, JPMorgan lifts its Kospi bull case to 10,000, and Fitch upgrades Argentina to 'B-'.

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Weekly investor research

Global PMIs shows supply chain bottlenecks persist

Global PMIs declined, dragged down by Covid-19 delta variant concerns as supply chain bottlenecks kept price pressures. The Brazilian Congress approved a tax reform as the government aims for a steep fiscal consolidation.
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Market Commentary

EM 2021 real GDP growth revised higher

Sell-side economists revised real GDP growth higher in July across two-thirds of emerging markets (EM) and frontier markets (FM) countries, while lower revisions affected one-third of EM economies.
Weekly investor research
Weekly investor research

Inflation peaking in EM

Inflation surprised to the downside across most large EM economies in June.