In today’s briefing:
- New IPOs in 2022 That Could Further Pressure Bottom 10% of KOSPI 200 & MSCI Korea in 2022
- Gems Among Stones: EM Rates’ 2021 Performance and What to Expect in 2022
New IPOs in 2022 That Could Further Pressure Bottom 10% of KOSPI 200 & MSCI Korea in 2022
- We discuss the impact of the new IPOs in 2022 which could pressure the bottom 10% of KOSPI 200 and MSCI Korea in 2022.
- With the expected IPOs of large-scale IPOs in Korea this year, there will likely be greater speculations about potential stocks in KOSPI 200 & MSCI Korea Index to be excluded.
- The exclusions of may not occur in 1H22, but they may occur in 2H22/1H23, which may further drive lower the bottom 10% in the KOSPI 200 and MSCI Korea Index.
Gems Among Stones: EM Rates’ 2021 Performance and What to Expect in 2022
- The performance of EM rates this year should be driven primarily by the behavior of US rates and domestic monetary policy, with fiscal policy playing less of a role.
- Among the outliers in 2021, the moves in Indonesia, Poland, and Hungary were appropriate, but Brazil looks vulnerable. Instead of an outright payer in Brazil though, I like a steepener.
- Besides Brazil, I like steepening trades in Russia, Czechia, and Colombia as curves should bull-steepen this year. Another one to track this year with a similar idea is Chile.
Before it’s here, it’s on Smartkarma
