Global Emerging Markets RSS

The latest news, expert analyst and commentary on global macro and pan-emerging-market economic, investing and policy trends from Emerging Markets.

  • EM local currency debt bull run, a refresher

    22 Feb 2012

    The decent - and sustained - pace of inflows into local currency emerging market debt year-to-date confirms the asset class's mainstream allure, according to Barclays Capital. But capital controls inhibit access for big-ticket investors.

  • EM equities and FX risk

    21 Feb 2012

    Hard currency and local currency EM equity returns have moved in lockstep over the past decade – suggesting little reason to hedge FX risk when investing

  • DM correlations falling; where now for EM?

    20 Feb 2012

    The correlation between developed market equities has fallen dramatically year-to-date, a boon for the rally's prospects, according to Nomura.

  • EM equities: Similar, but different

    20 Feb 2012

    Emerging market stocks have been tracking developed markets more closely than ever in recent years – but this doesn’t have to stop them delivering better returns

  • Fiscal authoritarianism vs. monetary anarchy: Bob's World

    20 Feb 2012

    The eurozone is blowing up, central banks are forever blowing bubbles, markets are drunk on liquidity and the hangover will be the worst in living memory. Monday thoughts from Nomura's Bob Janjuah.

  • Accrued interest: EM reads

    17 Feb 2012

    Our selection of emerging markets-focused commentary on markets, economics and international policy, updated throughout the week

  • RISK ON! - Postcards from Draghi's liquidity safari

    17 Feb 2012

    Greek solvency woes, Chinese debt burdens and Middle East political risk. Markets have shrugged off these global headwinds year-to-date principally thanks to gigantic monetary stimulus from the ECB.

  • World Bank presidential fallout, 2012 edition

    17 Feb 2012

    Calls are growing for the US to give a non-US citizen a shot at leading the World Bank, following Robert Zoellick's decision this week to leave the post. Here's a partial round-up of the debate in the media.

  • Feb 17: Emerging markets' funding dilemma

    16 Feb 2012

    Sovereigns turning to sukuk to replace traditional financing is the lead story in our round-up of this week's articles on Emerging Markets Online

  • Feb 13-17: EM reads

    13 Feb 2012

  • Breaking the commodity cycle, Jordan edition

    07 Feb 2012

    Jordan's ambitious energy independence plans should be met with fiscal tightening at a time when Saudi-style stimulus demands have snowballed

  • EM reserve accumulation drive stronger than ever

    07 Feb 2012

    Recent financial crises have only reinforced the allure of piling up on FX reserves, a process that's delaying the rebalancing of global demand while adding to the stockpile of US Treasuries.

  • Banks cut EMEA sovereign dollar bond exposures

    06 Feb 2012

    EM sovereign dollar bonds have markedly under-performed their credit default swap cousins and comparable US corporates, possibly down to the fact Western banks face higher inventory charges.

  • EM FX fallout: cut spending or be damned

    06 Feb 2012

    Government spending cuts could be one way to stem the currency appreciation tide in Latin America, says Capital Economics, but at a cost. Still, it will do little to reduce potential distortions in the financial sector

  • IMF: Crisis could slash China growth to 4%

    06 Feb 2012

    A eurozone-induced global financial crisis could trigger a crash landing for the Chinese economy unless Beijing enacts a fresh stimulus, the IMF has warned.

  • Feb 3: Carry on trading

    03 Feb 2012

    It feels like 2010 again: an EM currency rally, US angst over Chinese currency policy, and global 'currency war' fears.

  • Meet 'Ben' Jiabao

    03 Feb 2012

    Can a Ben Bernanke/Wen Jiabao put save the global economy?

  • The ties that bind London and the RMB

    03 Feb 2012

    Here's a crib-sheet charting London's role as an offshore trading centre for the renminbi. But don't confuse these market developments with making the Chinese currency fully convertible.

  • Brazilian real appreciation rekindles ‘currency war’ concerns

    02 Feb 2012

    Expectations are mounting that Brazil may intervene to stem recent sustained currency appreciation and inflows, raising fears of renewed currency and trade tensions across developed and emerging markets

  • Consensus forms on EM currency rally

    01 Feb 2012

    A cosy consensus has emerged that emerging market currencies can maintain their upward bias given strong liquidity conditions and attractive valuations.

  • IMF's China currency bombshell

    01 Feb 2012

    The IMF's decision to review whether China's currency is still "substantially undervalued" could prove a political bombshell given the US election season and the Fund's desire to tap Beijing for funding.

  • Asia vs. EEMEA: FX/oil prices edition

    31 Jan 2012

    Weaker Brent crude prices - especially in local currency terms - are likely to buoy Asia markets, and boost monetary easing. But it's a different story for EEMEA, according to a Bank of America report.

  • Direct impact of QE3 and LTROs on EM ‘will be limited’

    31 Jan 2012

    Further liquidity operations by the US Federal Reserve and the European Central Bank won't directly result in a flood of capital to emerging markets, analysts suggest.

  • EM currency rally: hold on tight

    31 Jan 2012

    The monetary policy/risk on-off dynamic holds the key as to whether EM currencies can continue their storming start to 2012.

  • Jan 23-27: EM reads

    27 Jan 2012

    Our selection of emerging markets-focused commentary on markets, economics and international policy, updated throughout the week

  • Jan 27: A call to monetary arms

    27 Jan 2012

    Markets are betting that EM central banks will cut rates in earnest, but their capacity to act remains constrained by ongoing concerns over currency, capital flows and inflation

  • US Fed: late to the inflation-targeting party

    27 Jan 2012

    By announcing a 2% inflation goal, the US Federal Reserve appears to be following in the foosteps of long-standing emerging market inflation targeters at a time when many are increasingly tilting towards growth

  • Message to emerging markets: prepare for QE3

    26 Jan 2012

    The US Federal Reserve has strongly hinted that it may sanction a further round of quantitative easing in the coming months, posing policy challenges for emerging markets

  • The great Western bank deleveraging

    25 Jan 2012

    IIF sounds alarm on Western bank retreat from emerging markets, as capital flows are forecast to fall to $746bn this year.

  • IMF slashes emerging market growth forecasts

    24 Jan 2012

    The International Monetary Fund is the latest high-profile organisation to cut its EM growth outlook for 2012, but stopped short of a recession warning.

  • EM monetary policy: growth to the fore

    23 Jan 2012

    Investors are betting on a slew of EM rate cuts this year but FX volatility and stubborn inflation might spoil the stimulus party

  • Ominous omen: Israel cuts rates

    23 Jan 2012

    The move by Israeli central bank governor Stanley Fischer, a renowned monetary policy prophet, sugggests further rate cuts across EM

  • Jan 20: Green shoots vs. yellow weeds

    20 Jan 2012

    The apparent decoupling between asset markets – EM equities, in particular - and continued macro stress this week is a source of optimism for some and fear for others. Take your pick.

  • EM equities: this time is different ... again

    19 Jan 2012

    Sell-side analysts are once again calling for emerging market equities to outperform, based on attractive valuations. Will they be right this time?

  • IMF funding boost: over to you, China

    19 Jan 2012

    The bulk of the $600 billion in new funds sought by the IMF will have to come from large emerging economies. It's do or die.

  • World Bank issues emerging market recession warning

    18 Jan 2012

    A Lehman-type event in Europe or the US could shave more than 4% off GDP growth in developing nations, the World Bank has warned

  • Goldman: robust China demand to drive metals higher

    16 Jan 2012

    Goldman Sachs has forecast robust industrial commodity price growth in 2012, despite signs of a Chinese slowdown

  • Growth fears cast shadow over emerging world

    Growth fears cast shadow over emerging world

    09 Jan 2012

    A slowdown across the emerging economies is all but inevitable in 2012, as policymakers grapple with both external and domestic pressures

EM Week


In Focus: Eastern Europe

  1. Eurozone deleveraging threatens CEE growth

  2. Malev turbulence set to roil Hungarian state finances

  3. Romania 'risks losing investor credibility'

  4. Hungary: a temporary hiatus