Re-Emerging Markets

PBOC Held Rates Steady In March

The People's Bank of China held the 1-year medium-term lending facility rate at 2.5% in March. The PBOC remains on a dovish tilt, but depreciation pressure on the RMB limits room for monetary easing in China. PBOC has pushed back more against RMB depreciation since the start of the year.

Clouds Clearing In The Land Of The Rising Sun

William Blair has been increasing exposure to Japanese equities across his international equity portfolios. Abenomics aims to turn the trillions of yen held in cash by households into equity investments. Japan's economy has been stagnant for decades. The country is experiencing inflation for the first time in decades.

Weekly Report: what happened at KBND last week (0304-0308)?

Emerging Market Insights - Semiconductor Sector Soars

Franklin Templeton: The semiconductor sector posted a 10% gain in February. The electric vehicle sector has been under pressure in recent months despite rapid growth in 2023. Semiconductors in focus reflect renewed optimism surrounding artificial intelligence chips and their applications. We are constructive on a broad-based recovery in semiconductor demand in 2024.

China's 2 Sessions Sets The Stage For 2024

Weekly Report: what happened at KBND last week (0226-0301)?

Worldwide Manufacturing Returns To Growth

February's PMI surveys showed manufacturing business conditions improving for the first time in 18 months. The Global Manufacturing PMI, by JPMorgan and S&P Global Market Intelligence, rose from 50.0 in January to 50.3 in February. The survey's index of production hit a nine-month high in January. Overall new orders rose in 20 months, aided by a rise in global export orders.

This Week in ETFs: DWS Adds First Active ETF

Krane Shares China Credit Index ETF declares monthly distribution of $0.0626

Can China's Real Estate Market Survive Evergrande?

The collapse of Chinese real estate giant Evergrande is being called China's "Lehman Moment" Country Garden, another of the largest developers, has failed to repay its loans and is now facing liquidation demands from creditors. The collapse of China's real estate market is a massive reality check for the country's economy.

Weekly Report: what happened at KBND last week (0219-0223)?

WTO Conference Faces Challenges As Big Players Turn Inward

Inflation Retreating But Shelter Remains The Problem

Canada’s January CPI report came in softer than expected at an annualized rate of 2.9%. The main driver of shelter inflation was mortgage interest costs, rising 6.2% year-over-year. The trouble spot remains shelter. The Bank of Canada's inflation is now within its 1-3% target range.

Four Looming Risks That Could Bolster EM Bonds

Mexico Passes China As U.S.'s Biggest Source Of Imports: What That Says About The State Of Global Trade

Mexico Passes China As U.S.'s Biggest Source Of Imports: What That Says About The State Of Global Trade. For the first time in 20 years, China is no longer the main seller of goods to the US. Derek Burleton, Deputy-Chief Economist at TD, discusses the changing globalization landscape and Canada's ability to compete.

Enter The Dragon: Parsing Lunar New Year Opportunities Among Emerging Markets

As we enter the year of the dragon, Dina Ting assesses the opportunities and risks in China and Taiwan. China and Hong Kong markets had a humbling 2023 with equities down more than 10%. Beijing has begun stepping up tourism and travel promotions. Latin America was an EM bright spot that outperformed the S&P 500 in 2023.

Most Economic Indicators Tell Me The Fed Should Cut Rates Sooner, Not Later

Weekly Report: what happened at KBND last week (0212-0216)?

Systematic Equity Outlook: Victory Not Yet Secured

Home Market Outlook Today's Market Systematic Equity Outlook: Victory Not Yet Secured by Raffaele Savi and Jeff Shen, PhD. Will the Fed fall behind the curve? More room for equities to price in disinflation. Navigating the Red Sea shipping crisis and the evolving outlook for China.