Argentine Peso
President Javier Milei’s decisive electoral victory has revitalized Argentina’s liberal reform agenda and restored investor confidence. After last month’s setback in Buenos Aires, markets feared the liberal experiment was over. Instead, the government far…
In this chartbook, we look at the balance of payments across DM and EM countries. The US does not fare well, but neither do a few other countries.
Global currency markets have entered a new era. This implies that the framework for analyzing exchange rates must also change. We introduce a new framework for analyzing EM currencies and classify them into resilient and vulnerable categories. Finally, we are adding more EM domestic bonds to our portfolio and making many changes to our currency trades.