A Multi-Factor Approach to EM Corporate Bonds
August 5, 2021 – The size of the EM external corporate debt market has more than tripled in size since 2009, to over USD 2.6 trillion, much larger than EM Sovereigns, including quasi-sovereigns, (USD 1.4 trillion) and US High Yield (USD 1.5 trillion). The high…
Revisiting the US Dollar Weakening Cycle
August 5, 2020 – In July last year, we argued that global macroeconomic conditions indicated the US dollar was nearing an inflection point after at least 8 years of appreciation[1]Our report: “What do US dollar peaks look like, how quick are they, and what can…
The Digital Horizon in Small EM and Frontier Markets
August 5, 2021 – Frontier and frontier-like small emerging markets have long been characterized by a lack of exposure to “new economy” companies. While the broader technology sector, including e-commerce, accounted for over 25% and 40% of the market capitalization in the US and China,…