Ashmore

In a recent opinion piece for Portfolio Adviser, Head of Research Gustavo Medeiros explores the opportunity emerging across Latin America and why the region could be entering a new cycle of growth.   He highlights the impact of changing political sentiments, an unusually broad investment pipeline and Latin America's relatively limited representation in passive EM funds.   Together, these factors could create a compelling opportunity for investors, but one that few are currently positioned for.   Read Gus’ full thoughts here: https://lnkd.in/eMkxCnWE

Our recent Emerging View explored why EM assets have held up so well despite the Fed hiking into an energy shock, a combination that has historically been a painful mix for emerging markets. Our research team, Gustavo Medeiros and Ben Underhill, explain what’s different this time and why they see the current uptick in the US dollar and rates as an opportunity to add exposure to EM equities and local currency debt. Read the full piece here: https://lnkd.in/etRHr-wc

Last week in global and emerging markets: ➡️ US core CPI inflation higher than expected, but bond yields fell in a risk-off move. ➡️ AI financing concerns intensify against a higher yield environment. ➡️ Saudi Arabia continues to absorb daily Houthi attacks. Read more from Gustavo Medeiros and Ben Underhill in Ashmore’s latest weekly research: https://lnkd.in/eApetcsa

See comments from Ashmore Portfolio Manager Alexis de Mones in Investment & Pensions Europe (IPE)’s latest asset class report on Emerging Market Debt. He explained how the asset class has delivered more than double the returns of broader emerging markets over the past five years, and why 2023 marked a turning point, when high yields met governments committed to macroeconomic stabilisation and fighting inflation. Read the full piece here:  https://lnkd.in/ermJVZcW

Head of Research Gustavo Medeiros shared his reaction to the Brazilian election first round results with Bloomberg Línea’s Daniel Mauricio Salazar Castellanos. He discussed the challenges a Flávio Bolsonaro presidency could face, from inheriting a divided country and a lack of executive experience to lingering concerns among parts of the elite over democratic institutions. Read the full piece here: https://lnkd.in/eXE6czhR

Last week in global and emerging markets: ➡️ US core CPI expected to stay subdued this week despite higher headline inflation. ➡️ Financials post their worst month relative to the S&P 500 since 1990, weighed down by higher yields and fears that AI will draw cash away from bank deposits. ➡️ Flávio Bolsonaro takes the lead over Lula in a Datafolha runoff poll for the first time. Read more from @Gustavo Medeiros and @Ben Underhill in Ashmore’s latest weekly research: https://lnkd.in/ehuNyFh3

EM local currency debt offers a rare combination: an investment-grade average rating, real yields close to their highest in 15 years, and currencies that remain cheap against an overvalued US dollar. Gustavo Medeiros and Ben Underhill explore EM FX risk outlook, the varied opportunities across regions including Asia, Latin America, Eastern Europe and Africa. Read more here: https://lnkd.in/eqPGYymd

Head of Research Gustavo Medeiros shared his reaction to the Brazilian election first round results with Reuters’ Libby George. He discussed what a Bolsonaro presidency could look like whilst highlighting that it is not a foregone conclusion. Read the full piece here: https://lnkd.in/eSVZjitZ

Emerging Market local currency bonds are among the best performing fixed income asset classes over the past three years, but remain under-owned and often misunderstood. Our research team of Gustavo Medeiros and Ben Underhill explain what you need to know and the opportunities and risks for the asset class. Read the full analysis here: https://lnkd.in/eqPGYymd

Last week in global and emerging markets: ➡️ Flavio Bolsonaro’s first round surprising victory makes a political transition in Brazil highly likely. ➡️ French 10-year government bond yields rise to highest levels since 2009. ➡️ The move wider in global bond yields is not fiscally related, in our view. Read more from Gustavo Medeiros and Ben Underhill in Ashmore’s latest weekly research: https://lnkd.in/eHca-iR9