USD-denominated Emerging Market bonds have been outperforming US corporates for the past year. We don’t think the rally is exhausted yet.
In this chartbook, we look at the balance of payments across DM and EM countries. The US does not fare well, but neither do a few other countries.
The South African government seems to believe that some fiscal retrenchment can stabilize the public debt-to-GDP ratio. But that’s a misconception. The country will need draconian spending cuts to achieve this.
EM credit markets have recently defied the selloffs in EM equities, currencies, local currency bonds, and commodities. According to our Emerging Markets Strategy colleagues, such a decoupling is unusual. A potential Trump re-…
South African stocks, domestic bonds, and currency have all rallied since BCA’s Emerging Markets Strategy team upgraded South African assets last month following the formation of the new national unity government. The rally…
In a recent report, BCA Research’s Emerging Markets Strategy team recommended upgrading South African assets. The team argued that the new national unity government has an opportunity to ease the restrictive policies and…
According to BCA Research’s Geopolitical Strategy service, the South African election presents a window of opportunity for productivity-boosting structural reforms, such as privatization, to coincide with monetary and…
In this report, we gauge the outlook for the dollar given client visits in Africa.
Our Emerging Markets Strategy team posits that the South African economy is heading into a recession later this year. The South African government refrained from announcing any stimulus measures in its recent budget proposals.…