Perspectivas
Emerging Markets Debt Outlook: Surviving Outside the Tent
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Insight Article
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mayo 14, 2020
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mayo 14, 2020
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Emerging Markets Debt Outlook: Surviving Outside the Tent |
In the first quarter of 2020, COVID-19 spread across the globe, wreaking havoc on the global health system and prompting an unprecedented closure of vast segments of the global economy. The recalibration of global growth and employment prospects fractured market confidence, sparking a sharp rise in volatility, and a historic decline in the value of global debt and equity markets.
In the ensuing panic, as Developed Market (DM) authorities, including the U.S. Treasury, U.S. Federal Reserve and European Central Bank (ECB), strategized stimulus measures, familiar narratives began to circulate regarding the downfall of Emerging Markets (EM). Despite standing outside the “tent” pitched by the Fed and other DM financial institutions to shelter developed markets, we contend that the imminent demise of EM has been greatly exaggerated. In our new whitepaper, Surviving Outside the Tent, we review the current crisis in the context of EM, examining its impact on a diverse array of economies, their response to the shock, our response in our portfolios and the outlook for asset prices.
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Portfolio Manager
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Head of Sovereign Research
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Research Analyst
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