What to Expect of EM Rates When Expecting US Rates to Stay Volatile?
The high volatility in US rates does not bode well for EM rates due to their high correlation even though EM local debt is overall cheap. Cross...
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Does Chile’s Rate Curve Flattening Offer an Opportunity?
With global rate curves bear-flattening, slopes in several emerging countries have reached extreme levels, arguing for steepeners. I discuss the...
374 Views
Gems Among Stones: EM Rates’ 2021 Performance and What to Expect in 2022
Among the outliers in 2021, Brazil looks vulnerable. Instead of an outright payer though, I like a curve steepening trade in Brazil as I do in...
282 Views
How Are Rates in Asia Reacting to the Rise in US Yields?
Rates in Asia have sold off but less than global rates mainly due to the outperformance of Indonesia and China, with the former looking more...
325 Views
Mexico’s Rate Curve to Continue Bear-Flattening
I expect Mexico's curve to resume bear-flattening as the curve prices in more rate hikes on the back of high inflation and growth turning positive...
211 Views