China Economics Update Government support for property ignites equity rally Government promises of support for the property sector triggered sharp gains in China’s stock markets in the last week of October. Meanwhile, appreciation expectations appear to be returning for the... 31st October 2014 · 1 min read
Emerging Europe Economics Update Ruble crisis spurs central bank response Russia’s central bank had to deliver two things at today’s Board meeting in order to stem the slide in the ruble: an aggressive hike in interest rates and an immediate overhaul of the current exchange... 31st October 2014 · 1 min read
Global Markets Update What does Bank of Japan easing mean for the rest of the world? So much for the end of QE! The Bank of Japan’s announcement today that is stepping up its asset purchases is a timely reminder that not everyone has to follow the Fed. We would be wary of speculation... 31st October 2014 · 1 min read
Asia Economics Update Minimal impact from the end of QE3 Asia's financial markets have so far taken the end of QE3 largely in their stride. The performance of the region's currencies and equity markets has been fairly muted over the past month, while... 31st October 2014 · 1 min read
Emerging Europe Economics Update Ruble crisis pushes central bank towards heavy FX intervention The Russian ruble has rallied by around 3% against the dollar today seemingly as a result of central bank intervention on the foreign exchange market 30th October 2014 · 1 min read
EM Valuations Monitor Low valuations should help to support EM equities Equities in emerging markets have fared poorly since the end of September, dragging down the price/12m forward earnings ratio in most regions to below its 5-year average, with the exception of Latin... 28th October 2014 · 1 min read
Asia Chart Pack No sign of improvement Economic growth in Emerging Asia is showing no sign of improvement. Our GDP tracker is pointing to growth of around 4.5% in the third quarter, which is roughly unchanged from the previous quarter and... 28th October 2014 · 1 min read
Emerging Europe Economics Update Ruble crisis points to larger-than-expected rate hikes The continued slide in the ruble over the past few weeks has raised the prospect that Russia is in the grip of a self-fulfilling currency crisis in which the mere anticipation of currency weakness... 28th October 2014 · 1 min read
Africa Economics Update South Africa outperforms struggling SSA markets Concerns about the strength of the global economy, alongside a number of other factors, have weighed on Africa’s financial markets over the past month. Amid the gloom, South Africa’s markets have been... 27th October 2014 · 1 min read
Latin America Economics Update Argentine economy slumps following default Capital outflows following the Argentine government’s default probably contributed to the slump in economic activity in August, leaving the economy on course to contract by 1-2% this year. Unless the... 24th October 2014 · 1 min read
Global Markets Update Will inflows from abroad pick up again soon? Net inflows into global ETF and mutual funds in September were at their lowest level since March, when there was last an outflow. While this was due in part to a continued small outflow from funds... 23rd October 2014 · 1 min read
Africa Economics Update Falling commodity prices not enough to pull SA’s inflation down Recent movements in commodity prices are unlikely to be enough to lower inflation in South Africa substantially. Indeed, exchange rate weakness and upcoming energy price hikes will put further upward... 23rd October 2014 · 1 min read
Latin America Economics Update Equities suffer further losses, but currencies and bonds fare better Following last month’s broad sell-off in “risky” assets, in which financial markets in Latin America were hit across the board, the performance this month has been more mixed. While equities have... 22nd October 2014 · 1 min read
Middle East & North Africa Economics Update Equities in the Gulf hit by falling oil prices Despite recovering a little in recent days, it’s been a torrid month for stock markets across the MENA region. In part, this has reflected the broader sell-off in EM financial markets. But in the Gulf... 22nd October 2014 · 1 min read
Japan Data Response External trade (Sep.) Japan's trade deficit edged higher in September, against expectations, but a weaker yen, falling commodity prices and the sluggishness of domestic demand should combine to deliver a narrower deficit... 22nd October 2014 · 1 min read
Middle East & North Africa Economics Focus Gulf: Fall in oil prices unlikely to trigger another “lost decade” Concerns that the recent fall in oil prices could lead to another “lost decade” for the Gulf, similar to the 1980s, are probably overdone. The region’s large accumulated savings mean that most... 21st October 2014 · 1 min read
