Fixed Income and Currency Strategist

Gautam Jain, PhD, CFA

Gautam Jain has over 25 years of experience covering global emerging fixed income and currency markets, both as a strategist and a portfolio manager. He has worked in buy-side and sell-side firms, including The Rohatyn Group (TRG Management), Barclays Capital, and Millennium Partners. He has helped manage emerging markets local-currency and hard-currency debt funds. The assets that he covers include currencies, interest rates, sovereign credits, and related derivatives. He specializes in portfolio construction, smart-beta index creation, and asset allocation. Mr. Jain holds a Ph.D. in Operations Research from Columbia University and is a CFA charter holder.

FX Dashboard: Is It Time for Latin American Currencies to Turn Around?

FX Dashboard: Spillover Risk from China to EM FX

FX Dashboard: Mexican Peso Should Continue Outperforming

Rates 10y Dashboard: Interest Rates in Poland Diverge from Neighbors

Alpha Bites: Long Chilean Peso Vs Short Australian Dollar

FX Dashboard: How Much Further Can the Brazilian Real Run?

FX Dashboard: Stay Bullish on Mexican Peso

FX & Rates

<p>EM currencies on aggregate have been tracking the US dollar closely but there has been a fair amount of differentiation within EM. With many central banks in EM embarking on monetary tightening cycles, we investigate whether that has been a factor explaining the different currency performances. We also identify the currencies that are cheap and expensive based on this analysis.</p><p>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.</p>

EM currencies on aggregate have been tracking the US dollar closely but there has been a fair amount of differentiation within EM. With many central banks in EM embarking on monetary tightening cycles, we investigate whether that has been a factor explaining the different currency performances. We also identify the currencies that are cheap and expensive based on this analysis.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.

FX Dashboard: Is Monetary Policy Driving FX Returns?

CLP

FX Dashboard: Is Monetary Policy Driving FX Returns?