At first glance, the "phase one" US-China trade deal looks to slightly exceed our expectations, suggesting modest upside to our economic growth forecasts.
The balance of risk and reward remains attractive in several high yielding EM local debt markets, while EM currencies are well positioned for a strong recovery in 2020.
The 2020 outlook for emerging market debt (EMD) remains positive, with fundamentals broadly supportive. Should the US dollar depreciate, the upside for local EMD looks particularly attractive.
Economic and Strategy Viewpoint
Schroders' economists suggest the global economy will probably avoid a recession in 2020, why they are optimistic about emerging markets next year, and mull the end of Japan's era of "Abenomics".
China’s bond markets are huge, but many foreign investors have little exposure. They are now opening up. Manu George explains the potential long-term opportunity for investors.
Microfinance is a promising way to address global problems such as poverty, inequality and environmental damage. But what’s in it for investors?