Technology
The global semiconductor industry has been experiencing a record amount of IPOs and M&A deals in recent months. A flurry of IPOs and M&As in any industry often serves as a sign of a top in share prices (Chart 1). Chat 1Will Booming Semiconductor…
Buenos Aires Consensus…
A Complete Circuit…
Continue To Avoid Semi Cap Names…
Highlights Portfolio Strategy We opt to stay patient and refrain from deploying fresh capital especially in the tech sector in the near-term; a better entry point will likely materialize between now and the end of the year. The softening demand backdrop…
Languishing Buybacks…
This report contains an error in the section related to consumer spending and fiscal policy. That error somewhat changes the conclusions from the report, and it particularly impacts Chart 3, Table 2 and Table 3. The attached note explains the mistake and…
The Consequence Of A Concentrated Market…
Chart 1
Chart 1…
Highlights EM domestic fundamentals, global trade and commodities prices, as well as global financial market themes are the main drivers of EM financial assets and currencies. The positive effect of improving global growth and rising commodity prices on…