Where “push” and “pull” align - Jan. EM/DM Leading Indicator Watch [video + AI summary]

  • Speakers: Tian Yang (Head of Research) and Jonathan Petersen (Macro Strategist)
  • The macro backdrop remains risk-on, with stable growth, easing policy, and contained inflation, but the opportunity set increasingly depends on identifying pull factors outside the US rather than simply expressing a blanket “Sell America” trade.
  • Country selection matters more than broad regional bets: UK assets are constrained by a stagflationary mix best expressed via the SONIA curve; Japan still skews toward yen weakness near term; France stands out as a potential outperformer among DM equities; Brazil remains our highest-conviction EM allocation; and IDR and KRW still look set to strengthen against the USD.
  • The attached AI summary provides the key takeaways that can be read in less than 5 minutes.
Discussionsemdmapaceulacnoramfixed incomecurrencyequity regionAsset AllocationGlobal MacroPublic
Avatar

VP Research