Views & News

Emerging Markets Spotlight

| Emerging Markets Equities
James Syme
Paul Wimborne
Ada Chan
19 Oct 2022
One of the main drivers of global financial markets in 2022 has been the strength of the US dollar (and the weakness of other global currencies), driven by tightening US financial conditions. The dollar is the preferred currency for international trade invoices and cross-border financial claims. The global financial cycle is essentially a dollar cycle, and an aggressively tightening Federal Reserve has a chilling effect on non-US economies and non-US financial markets.


The views expressed are those of the portfolio managers as of October 2022 are subject to change, and may differ from the views of other portfolio managers or the firm as a whole. These opinions are not intended to be a forecast of future events, a guarantee of future results, or investment advice.

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