Korea has, by first-hand experience, been a sell-side favorite, and the Kospi has been on a roll recently. Some leading cyclical indicators have started to turn however, and the question is then whether to book some profits in the region?
EM by EM #29: Biden’s party, EM’s hangover & Scholz’s nightmare
The recent howler of 30y UST auction made yields spike and has served as a reality check for the brief optimism in emerging markets. But we refuese to concede to the negativity – We illustrate the long-term prospects for Latin America in the new deglobalized order below
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Trade alert: EWZ closed
Bear-steepening paired with cuts left BRL vulnerable
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5 Things We Watch – PMIs, FX, Japan, Brazil, Inflation
This week our primary focus is the current business cycle, where we try to figure out which stage we are in, and what outlook different asset classes are pricing in. Today’s edition of ‘5 Things We Watch’ is no exception.
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EM by EM #13 – A sweetspot for Brazilian Equities?
We have been bullish on Brazil for months and got the market and timing right. But what about Brazilian stocks? Could they prove to be a buy here?
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EM by EM #9 The EM proxy crime and when to commit it
As a new addition to our editorial, I will now provide a monthly overview of emerging markets, taking a step back from the intricacies and offering a broader perspective. The purpose of this feature is to outline our current positioning within the market cycle and highlight the key factors we are monitoring surrounding EM.
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5 Things We Watch: Brazil, Italy, CNY, DAX and EU Banking Crisis
Is Brazil a hideout in the current environment? How will Italy refinance its debt? Is it time for CNY to head lower? Have we seen the top in DAX? And will the banking crisis move to Europe? Find the answers here.
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EM by EM #6 – is Brazil still attractive?
Having commenced this series with a bullish perspective on Brazil, it has now been approximately two months since my initial analysis. As I reassess the situation, I contemplate whether the trade is losing momentum or if there are still untapped profits to be seized.
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Something for the Espresso: More hiccups or will JPOW & Lagarde sleep tight?
We suspect both Powell and Lagarde to be content with today’s releases but perhaps the cycle fools everyone again?
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EM by EM #1 – Time to buy Brazilian sovereigns?
While the global macro wheel is heading for a slowdown, could Lula prove to be the least anticipated fiscal hawk given the current state of affairs?
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