Fixed Income and Currency Strategist

Gautam Jain, PhD, CFA

FX & Rates

We evaluate where in Asia would it be worthwhile to be long duration under our baseline scenario of US rates volatility staying low for the rest of the summer. To do so, we use carry, potential capital gains, and the correlation with the US as the primary metrics.Separately, the attached file is a snapshot of the EM 10y rates market in which we seek to identify the leaders and laggards among countries by comparing the performance of each to its history as well as to other countries based on their respective betas to an EM rates index.

We evaluate where in Asia would it be worthwhile to be long duration under our baseline scenario of US rates volatility staying low for the rest of the summer. To do so, we use carry, potential capital gains, and the correlation with the US as the primary metrics.Separately, the attached file is a snapshot of the EM 10y rates market in which we seek to identify the leaders and laggards among countries by comparing the performance of each to its history as well as to other countries based on their respective betas to an EM rates index.

Rates 10y Dashboard: Where in Asia Is Duration Risk Worthwhile?

US long-end yields may be headed for a summer lull. If so, it could set up a period where EM rates make up for some of their previous underperformance. We identify the countries that stand to benefit if this scenario plays out.Separately, the attached file is a snapshot of the EM currency market in which we seek to identify the leaders and laggards among currencies by comparing the performance of each to its history as well as to other currencies based on their respective betas to an EM currency index.

US long-end yields may be headed for a summer lull. If so, it could set up a period where EM rates make up for some of their previous underperformance. We identify the countries that stand to benefit if this scenario plays out.Separately, the attached file is a snapshot of the EM currency market in which we seek to identify the leaders and laggards among currencies by comparing the performance of each to its history as well as to other currencies based on their respective betas to an EM currency index.

Rates 10y Dashboard: Which Countries Stand to Benefit as EM Rates Volatility Falls?

In this note, we argue that Israel's curve should continue to steepen on the back of the high fiscal deficit amid a rising debt-to-GDP ratio and low year-to-date bond issuance hurting the long end while the short end should remain anchored.Separately, the attached file is a snapshot of the EM 10y rates market in which we seek to identify the leaders and laggards among countries by comparing the performance of each to its history as well as to other countries based on their respective betas to an EM rates index.

In this note, we argue that Israel's curve should continue to steepen on the back of the high fiscal deficit amid a rising debt-to-GDP ratio and low year-to-date bond issuance hurting the long end while the short end should remain anchored.Separately, the attached file is a snapshot of the EM 10y rates market in which we seek to identify the leaders and laggards among countries by comparing the performance of each to its history as well as to other countries based on their respective betas to an EM rates index.

Rates 10y Dashboard: Israel’s Curve Should Continue to Steepen

In this note, we point out that even as EM rate curves have broadly steepened, Russia's curve has flattened on the back of more rate hikes getting priced in the short end and the long end losing some of the risk premia that was built in anticipation of US sanctions.Separately, the attached file is a snapshot of EM 10y rates market, which we produce daily, and where we seek to identify the leaders and laggards among countries by comparing the performance of each to its history as well as to other countries based on their respective betas to the broad market.

In this note, we point out that even as EM rate curves have broadly steepened, Russia's curve has flattened on the back of more rate hikes getting priced in the short end and the long end losing some of the risk premia that was built in anticipation of US sanctions.Separately, the attached file is a snapshot of EM 10y rates market, which we produce daily, and where we seek to identify the leaders and laggards among countries by comparing the performance of each to its history as well as to other countries based on their respective betas to the broad market.

Rates 10y Dashboard: Russia’s Rate Curve Flattens Even as EM Steepens

Israel

A vanila interest rate swap us an agreement between two counterparties to exchange cashflows (fixed vs floating) in the same currency. This agreement is often used by counterparties to change their fixed cashflows to floating or vice versa. The payments are made during the life of the swap in the frequency that is pre-established by the counterparties.

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ILS 10Y (ISSW10 CURNCY)

Rates 10y Dashboard: Where in Asia Is Duration Risk Worthwhile?

We evaluate where in Asia would it be worthwhile to be long duration using carry, potential capital gains, and the correlation with the US as the...

Gautam Jain, PhD, CFA

Rates 10y Dashboard: Which Countries Stand to Benefit as EM Rates Volatility Falls?

With US long-end yields likely headed for a summer lull, EM rates could make up for some of their previous underperformance. We identify the...

Gautam Jain, PhD, CFA

Rates 10y Dashboard: Israel’s Curve Should Continue to Steepen

We argue that Israel's curve should continue to steepen on the back of the high fiscal deficit amid a rising debt-to-GDP ratio and low YTD bond...

Gautam Jain, PhD, CFA

Rates 10y Dashboard: Russia’s Rate Curve Flattens Even as EM Steepens

Even as EM curves have broadly steepened, Russia's curve has flattened as more rate hikes got priced in the short end and the long end rallied...

Gautam Jain, PhD, CFA

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)