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.

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

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

FX Dashboard: Stay Bullish on the Chilean Peso

Alpha Bites: Receive Chile 10y Vs Pay Chile 2y with Receiving Bias

Rates 10y Dashboard: Which EM Countries Stand to Benefit if US Rates Vol Keeps Falling?

Rates 10y Dashboard: EM Rates Are Underperforming the US

Alpha Bites: Take Profits on Two Rates Recommendations

FX & Rates

<p>The spread between EM and US 10-year rates continues to widen even though the volatility of US rates has come off the peak. We see this as an opportunity and continue to recommend flatteners in EM as we see the risk premium in the long end as excessive in several countries.</p><p>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.</p>

The spread between EM and US 10-year rates continues to widen even though the volatility of US rates has come off the peak. We see this as an opportunity and continue to recommend flatteners in EM as we see the risk premium in the long end as excessive in several countries.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: EM-US Rates Divergence Persists Despite Falling Volatility

CLP 10Y

Rates 10y Dashboard: EM-US Rates Divergence Persists Despite Falling Volatility