Global Emerging Markets
Economic & Strategy Viewpoint
In this month's Olympic-themed Viewpoint, we discuss the race for global growth, the eurozone’s bronze medal performance and the commendable, but not quite Olympic-standard, improvement in emerging markets.
Russian GDP improved in Q2 but the authorities need to address structural imbalances if the economy is going to grow strongly in a world of cheaper oil.
India’s Goods and Services Tax (GST) should remove a wide range of distortions and inefficiencies, benefiting investment, growth, and tax revenues in the medium to long run.
In this era of unprecedented asset price movements, we think investors should adapt their mindsets: they would be well served not to think of emerging markets as emerging markets.
Global Market Perspective
Economic and asset allocation views covering Q3 2016. This includes a global trade research note, global strategy update on Brexit implications and a mid-year performance review.
The slowdown in US jobs growth highlighted by Friday’s non-farm payroll data is a significant positive for emerging markets, their debt and their currencies.
Economic growth in Brazil should improve further if reform progress is made, although it is likely to plateau at a low level next year.