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

Subscribe to our insights

Subscribe and get notified as soon as we publish our content

The latest insights from our categories

Make Argentina great again
Market Commentary

Why Milei’s IMF deal could make Argentina great again

After President Milei’s rapid fiscal rebalancing, a fresh USD15bn disbursement from the IMF put Argentina in a position to slash its capital controls. Under the new FX regime, the peso - the world’s best performing currency last year - is holding firm.
Chinese and United States cargo containers
Weekly investor research

Habemus trade deal

US cut China tariffs to 30% for 90 days, sparking risk-on sentiment and Dollar rebound. Fed held rates steady. China eased policy further. India-Pakistan ceasefire. IMF lent $1.4bn to Pakistan. Peru cut rates. Ghana upgraded.
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...

Latest Insights

Market commentary
Market Commentary

Saudi Arabia’s Big Year

It was announced on 28 March that Saudi Arabia will be a constituent of the FTSE Emerging Markets index.
Market commentary
Market Commentary

The limits of protectionism

Last night the US government announced details of a USD 50bn package of tariffs on Chinese imports.
Market commentary
Market Commentary

Second Chance Saloon

Emerging Markets equity investors have once again over reacted to Developed Market events.
Emerging view
The Emerging View

2018 EM fixed income outlook

2018 is likely to see strong inflows to EM local markets on the back of strong performance, good value and improving fundamentals.
Emerging view
The Emerging View

The DM savings glut

In 2005 Former Fed Chairman Ben Bernanke argued that a savings glut in EM explained the US current account deficit.
Emerging view
The Emerging View

EM risk-free return

Last night’s S&P downgrade of El Salvador’s credit rating to Selective Default makes this report on Emerging Markets (EM) external debt extremely timely.
Emerging view
The Emerging View

Intra-EM trade

The view that Developed Market bonds are risk-free and that Emerging Markets (EMs) bonds are risky remains deeply entrenched.
Market commentary
Market Commentary

What’s down with the Dollar?

Quantitative Easing (QE) was the largest and most distortionary intervention ever made in global bond markets and it particularly favoured US markets.