Economies



Despite Trump, Asian equities remain attractive

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Market optimism towards President Trump’s expectations of tax cuts, infrastructure spending, and deregulation could come under pressure should party infighting and opposition persist. Global equities rallied following his election on anticipation that a Republican controlled White House and Congress could flawlessly push forward a pro-growth agenda. Risky assets that have… Read More »



Argentina’s century bond: much ado about nothing

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Argentina’s recently issued century bond deal was unexpected in terms of timing and maturity. Century bonds in Emerging Markets (EM) are rare (we think the table below is pretty exhaustive) and they grab the headlines, especially when issued by a credit that has defaulted many (many) times, like Argentina. Are… Read More »


Latin America: The winners and losers of “Trumponomics”

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Political changes in the US have caused uncertainty over the trade policies that could be implemented and the region’s vulnerability to tighter financial conditions. Since Donald Trump’s victory, the currencies of many emerging countries have fallen against the dollar. Mexico’s currency was the most greatly affected in the world, with… Read More »


Jupiter comments on India’s Goods and Services Tax

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India’s Goods and Services Tax (GST) came into effect over the weekend. Notwithstanding the potential for short-term disruption, the medium to long term impact should be positive. India’s new Goods and Services Tax (GST) marks the next stage of the Modi administration’s plan for the modernisation and rationalisation of India’s… Read More »


Second Half Outlook for Asian Markets

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For Asian equity markets, we hold a constructive outlook for the second half of this year, as the political and economic environment is more conducive towards earnings growth and is generally less vulnerable to global volatility. Policies continue to coalesce around a pro-economic agenda, evident with supply side reforms in… Read More »


China, a haven of stability?

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China’s annual average GDP growth over the medium term (2018-2020) has just been revised up by the IMF – from 6.0% to 6.4%, on expectations of further increases in public and private debt. In a context of robust cyclical momentum, this year’s 19th Party Congress in early November will set… Read More »


Revisiting North Korea tail risks

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While we have increased moderately the probability of the tail risk scenario for North Korea (military conflict), it remains a low probability event. Still discovering a new geopolitical balanceGeopolitical tensions have once again sparked financial market volatility. The US and North Korea remain in irreconcilable positions as Pyongyang remains firmly… Read More »