Russia, the US, and their influence in Latam
Much has changed in the last month on the world stage, and markets have not been immune from the latest developments stemming out of Eastern Europe. Specifically, the world order was challenged the morning of February 24 when Russian president...
Insight Type: Market commentary
Join our Quarterly Conference Call on the outlook for the global economy and markets. We will address our outlook for the first quarter of 2022 for global assets, Latin America, and tackle big themes like balanced portfolios, China, and Big Tech in the US and China.
Omicron: concerning, but not panicking
Although the omicron variant should continue to be a source of uncertainty and volatility over the near term, we do not expect the downtrend to be long-lasting. Omicron could be a mild drag on economic growth, but not a material one; inflationary impact could be more relevant.
Of Latam and the effects of transitory inflation
“Inflation” has been a recurrent buzzword lately, both in the developed world and in emerging markets. Amid supply chain bottlenecks and disruptions persisting longer than previously expected, central banks, particularly in the emerging world, have become more hawkish.
In many ways, it has been a more difficult one to invest in than last year, especially after the initial pandemic lockdowns. Essentially, almost anything you purchased after April of 2020, most likely went up as the reflationary trade spread...
Afghanistan and September Fireworks
The Biden Administration’s chaotic and ill-conceived withdrawal from Afghanistan is a reminder of how desperate the US is about disentangling itself from the Middle East and pivoting to Asia where it’s only peer competitor – China – awaits.
Is China an Emerging Market or a Developed one?
The answer is “it depends”. It is a hybrid market exhibiting both EM and DM characteristics. When modeling equities, Chinese stocks behave much more like emerging markets, especially in cases where policy decisions matter more than company or industry fundamentals... Listen to this episode to find out more.
Surfacing and Assessing the MidYear Landscape
A submarine’s military effectiveness has always depended on its ability to remain submerged and undetected. Surprisingly, the earliest vessels operated blindly under the sea, and until the twentieth century the only way for one to see was by surfacing. Of course, this revealed the submarine’s location to nearby vessels and conceded its invisibility.
How Much is Too Much?
Given that current and forward EPS estimates were cratering in 2020 due to the pandemic and subse-quent shutdowns, there is little doubt that much of the S&P 500’s rapid ascent last year was due to an expanding multiple. The US 10-year touched a cyclical and all-time low of 0.50% back in August.