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Webcast – EM ex-China Has The Earnings Beta – (7min:09sec) – November 1, 2023
Webcasts & Webinars ·
In today’s Webcast Mehran Nakhjavani looks at the outlook for emerging market equities.
Emerging Market Equities – EM ex-China Has The Earnings Beta – October 24, 2023
· Emerging Markets ·
Apart from some strong but short-lived bursts of outperformance, EM stocks have underperformed their DM (mainly U.S.) peers on a trend basis for a long time.
Emerging Markets Fixed Income – EM Debt: More Tailwinds – October 17, 2023
· Emerging Markets · Fixed Income ·
EM economic growth momentum is firming, which is credit-positive and has been historically accompanied by tightening EM bond spreads.
Mexico – Deglobalization And The Peso: Fact Versus Fiction – October 3, 2023
· Emerging Markets ·
Shifts in global supply chains have been one of the main characteristics of the current era of multipolarity and deglobalization.
Emerging Markets Foreign Exchange – Will EM Rate Cuts End The Party? – September 20, 2023
· Emerging Markets · Foreign Exchange ·
EM currencies will appreciate versus the dollar as investors come around to MRB’s no US. recession view and shift their focus to positive EM domestic currency drivers, namely strengthening relative growth momentum.
Emerging Market Equities – Time To Rotate To EM ex-China – August 24, 2023
· Emerging Markets · Equities ·
For those who have no mandated exposure to EM and make an undifferentiated call on the EM aggregate, we are continuing to recommend an overweight in EM stocks within a global equity portfolio.
Global Fixed Income – Another Upwave In Bond Yields Is Inevitable – August 9, 2023
· Fixed Income · Themes ·
After a brief reprieve beginning late last year, bonds have faced further losses since May as economy bears were caught wrongfooted on calls for a recession.
Webcast – EM Debt: Solid Growth And Rate Cuts Sustain Outperformance – (8min:52sec) – August 2, 2023
Webcasts & Webinars ·
In this week’s Webcast, Amr Abdel Khalek discusses the outlook for emerging market government bonds.
Emerging Markets Fixed Income – The Stars Align For EM Local-Currency Debt – July 27, 2023
· Emerging Markets · Fixed Income ·
Emerging market (EM) growth will accelerate over the next 6-12 months, driven primarily by EM Asia.
Emerging Market Equities – Get Ready To Rotate To EM ex-China – June 27, 2023
· Emerging Markets · Equities ·
The concept of a single “EM” asset class may well be out-dated (given that 60% of the index comprises China, Korea and Taiwan)…
Emerging Markets Fixed Income – Firming Growth And Rate Cuts Will Sustain Outperformance – June 1, 2023
· Emerging Markets · Fixed Income ·
Firming growth (in the context of disinflation), especially in EM Asia, will improve credit risk of EM local currency debt (EMLCD) relative to DM peers.
Emerging Markets Foreign Exchange – Come For The Growth, Stay For The Rate Cuts – May 25, 2023
· Emerging Markets · Foreign Exchange ·
The case for holding EM currencies is primarily predicated on their association with stronger growth and fewer risks to growth than their DM peers.
Webinar – Investing In EM: China? India? Or Neither? – (59min:17sec) – April 26, 2023
Webcasts & Webinars ·
Today’s MRB Webinar featured Mehran Nakhjavani and Amr Abdel Khalek discussing the outlook for EM investing.
Emerging Market Equities – It’s All About China, For Now – April 13, 2023
· Emerging Markets · Equities ·
In a world of constrained expectations and earnings counter-currents, EM stocks offer decent prospects for outperformance.
Emerging Markets Fixed Income – EM Debt: Resilient And Poised To Outperform – March 23, 2023
· Emerging Markets · Fixed Income ·
The return outlook for both EM local currency (EMLCD) and U.S. dollar debt may appear unappealing at first glance given how tight spreads are against their U.S. counterparts.
Emerging Markets Foreign Exchange – Better Growth Supports EM Currency Appreciation – March 16, 2023
· Emerging Markets · Foreign Exchange ·
We continue to see good odds of improving global growth conditions this year, with a reopening in China now gaining momentum…
Emerging Market Equities – More Than Just A China Bounce? – February 28, 2023
· Emerging Markets · Equities ·
With China’s earnings momentum already improving and a material economic rebound under way this year, Chinese stocks are well set to outperform their EM and DM peers.
Emerging Markets Fixed Income – Goldilocks Favors EM Debt – January 19, 2023
· Emerging Markets · Fixed Income ·
For an investor whose only insight into the EM debt asset class is a chart plotting the spread between EM debt and U.S. Treasury bonds…
Emerging Markets Foreign Exchange – EM Will Break Free Of The Dollar’s Chokehold In 2023 – January 12, 2023
· Emerging Markets · Foreign Exchange ·
The outbreak of the COVID-19 pandemic unleashed a dizzying array of global economic forces that have dominated the EM currency landscape.
Webcast – Investment Strategy For 2023 – (9min:20sec) – January 3, 2023
Webcasts & Webinars ·
In this Webcast Phillip Colmar focuses on the key portfolio tilts that we recommend in 2023.
Webinar – Best Ideas For 2023 – (77min:03sec) – December 14, 2022
Webcasts & Webinars ·
MRB’s senior research team provide a series of high-conviction and non-consensus ideas for setting investment strategy in 2023.
Roundtable – 2023 Outlook For Emerging Market Investing – (60min:00sec) – December 7, 2022
Webcasts & Webinars ·
Today’s Roundtable featured Mehran Nakhjavani and Amr Abdel Khalek discussing MRB’s views for economic growth and asset markets in the emerging markets, covering the following topics:
Emerging Market Equities – 2023 Outlook: A Sedate Recovery In Growth – November 23, 2022
· Emerging Markets · Equities ·
The current parlous state of earnings expectations in the EM world vindicates the steady underperformance of stock prices over the past year.
Emerging Markets – The Lula Pivot – November 18, 2022
Emerging Markets ·
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Emerging Markets Fixed Income – EM Local Debt Will Trump Dollar Debt – October 27, 2022
· Emerging Markets · Fixed Income ·
Spreads for EM local currency-denominated debt (EMLCD) have come screaming in over the past three months
Emerging Markets Foreign Exchange – Can EM Continue To Outperform DM (ex-U.S.)? – October 20, 2022
· Emerging Markets · Foreign Exchange ·
The U.S. dollar is king. To be fair, this has been the case only for the fourth time since the early-1970s
Emerging Market Equities – In Search Of Earnings Growth (At A Reasonable Price) – September 15, 2022
· Emerging Markets · Equities ·
Forward earnings growth is hard to find in the EM world, and is absent from three of its four major bourses
Emerging Markets Fixed Income – Stick With Selective High-Yielders – August 25, 2022
· Emerging Markets ·
Global inflation rates are mathematically certain to decline in the months ahead, thanks to base effects and lower energy costs.
Emerging Markets Foreign Exchange – Finding Shelter From The Dollar’s Chokehold – July 13, 2022
· Emerging Markets ·
The dominance of the U.S. dollar has become so pervasive in EM currency markets that allocations to EM offer very little diversification in a global currency portfolio
Emerging Market Equities – China’s Reopening Lifts EM, But For How Long? – June 30, 2022
· Emerging Markets · Equities ·
The long underperformance of EM has swung round into outperformance thanks to the desynchronized nature of Chinese economic momentum and its policy stance versus trends in developed markets (DM).