Affirm Holdings, Inc. (NASDAQ:AFRM) Barclays 14th Annual Emerging Payments and FinTech Forum May 15, 2024 2:25 PM ET Company Participants Brooke Major-Reid – Chief Capital OfficerRobert O’Hare – SVP, Finance Conference Call Participants Ramsey El-Assal – Barclays Ramsey El-Assal All right. Our next fireside chat of the day is with the Brooke Major-Reid, Chief Capital…
Ildo Frazao Foreign fixed-income markets from a US investor perspective have been an unappealing asset class lately – with a glaring exception: corporate bonds in emerging markets. Year to date, this slice of global fixed-income securities is hot, based on a set of ETFs through Thursday’s close (May 9). The rest of the field is…
tum3123 Emerging market economic growth was sustained at a solid rate at the start of the second quarter of 2024, according to PMI survey data with well-balanced improvements recorded across both the manufacturing and service sectors. Forward-looking indicators continued to point to further near-term expansions, with new business inflows notably rising at the fastest pace…
tum3123 Emerging market (EM) corporate bonds are too often overlooked by investors who presume the asset class is too niche or too risky. But the aggregate fundamentals of EM corporates are stronger than those of their developed market counterparts. For example, EM corporate net leverage ratios are significantly lower than those of US corporates, while…
tum3123 Stocks peaked about a month ago. Since late March, the S&P 500 has been down about 3%. Nothing to write home about in terms of a market correction, but it’s generally red across the board. One area that has been a quiet outperformer lately, though, is emerging markets. In a plot twist, EM has…
RiverNorthPhotography Interest rates have moved sharply higher this year. The yield on the benchmark 10-year Treasury note has jumped from 3.8% last December to near 4.7% over recent trading days. The 2-year note yield is back at 5% amid strong economic growth data and inflation readings that are above what the Federal Reserve wants to…
kokouu/E+ via Getty Images Camtek (NASDAQ:CAMT) is an Israeli company that designs and manufactures high-end inspection and measurement equipment for semiconductor businesses. As such, 84% of its revenues as of FY 2023 have come from China, Taiwan, and South Korea, three countries where semiconductor productions are concentrated. CAMT went public in 2000 at $6 per…
tum3123 By Saskia Kort-Chick & Markus Schneider Understanding the social risks posed by climate transition requires discipline, nuance and a systematic approach. The concept of a “just transition” has gained ground among responsible investors concerned about the economic consequences of the social risks that countries face in moving from fossil fuels to alternative energy sources….
tum3123/iStock via Getty Images Three things we are thinking about today: China-Signs of a rebound: Purchasing manager indexes in China rebounded in March, with the Caixin/S&P Global index reaching its highest level in over a year. Drivers of the rebound included rising raw material purchases and inventories. Chinese industrial companies may be restocking ahead of…
hh5800/iStock via Getty Images Since I covered Arista Networks (NYSE:ANET) in November 2023, the stock has surged by over 40%, while I had a neutral position mainly based on the normalization of supply chains which could result in pricing pressures. Also, as charted below, the stock has progressed by more than 79% during the last…
uchar/E+ via Getty Images Increasingly unhealthy lifestyles are leading to a higher incidence of organ failure worldwide, and while organ transplantation is generally the preferred treatment for organ failure due to better outcomes and quality of life, organ supply is currently heavily constrained for a variety of reasons, leading to a waiting list that as…
tum3123 By Behnood Noei, CFA In 2023, a dominant theme for markets was the return of income in fixed income. Fast-forward to 2024, and despite a significant rally in spreads and a fall in yields during the fourth quarter, we believe this theme is still alive and well. As a matter of fact, yields of…
Astrid Stawiarz Pernod Ricard (OTCPK:PRNDY, OTCPK:PDRDF) is the second-largest spirits and wines company in the world. They sell well-known brands such as Absolut Vodka and Kahlua. Wines and champagnes make up a small proportion (~5% of sales), the company is mostly focused on spirits such as vodka, whiskey, and gin. These drinks are becoming increasingly…
ronniechua By Bradley Krom If you only focused on the returns of the MSCI Emerging Markets (EM) Index, you’d think EM was dead money. If you looked at the MSCI Emerging Markets Ex-China Index, you’d basically be at breakeven over the last two years. But if you look at the WisdomTree India Earnings Fund (EPI),…
2d illustrations and photos Transcript We like emerging markets as upbeat risk appetite carries on. We see broader support for emerging market assets as markets price in a rosy macro outlook and fears of recession have faded. But selectivity is key. 1) Broader support for EM As markets have priced in rate cuts, 10-year Treasury…
tum3123 A third consecutive monthly acceleration in global output growth was supported by faster emerging market expansion while developed markets also returned to growth for the first time in six months. Overall, emerging markets continued to lead growth at the start of the year, with improvements seen in India and Brazil, while mainland China and…
alexsl Contrarian bet on EEM I just recently published an article where I outlined the bullish case for Emerging Markets stocks, as proxied by the iShares MSCI Emerging Markets ETF (NYSEARCA:EEM). This was a contrarian long idea, where a beaten down ETF had a positive catalyst to stage a significant bounce, although I did not…
aluxum In this article I analyze the Schwab Emerging Markets Equity ETF (NYSEARCA:SCHE), a thematic ETF that tracks the performance of the FTSE Emerging Index, focusing on the characteristics and metrics that, in my opinion, are worth to be considered. I also explain why I maintain a neutral stance on emerging markets outlook, despite some…
The below is an excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now. Last week, I put the massive buying pressure coming to bitcoin in context, but there is…
ugurhan Emerging markets bonds once again outperformed DM bonds, this time in a bond bull market year. The VanEck Emerging Markets Bond Fund was up 3.88% in December, compared to 4.12% for its benchmark. Egypt (dollar-denominated) was the biggest outperformer, along with Chile (local- and hard currency) and Colombia (local currency). Thailand, Indonesia, and Romania…
pichet_w Emerging markets equities saw positive performance in 4Q 2023, driven by valuation re-rating and currency strength. Monthly emerging markets equity insights from David Semple, Portfolio Manager and Ola El-Shawarby, Deputy Portfolio Manager, featuring their unique views on emerging markets. In the fourth quarter of 2023, emerging markets equities largely extended trends seen throughout the…
CIPhotos Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) is a precision oncology company targeting genetically defined cancers. It calls its approach the Masterkey approach, which aims to provide one solution for many types of cancer mutations and address the disease in a much broader range of patients than current precision therapies can access. Its oral therapies are…
tum3123 Whenever I come up with a macro investment theme, I like to use that theme as a guide to look for related investments. Recently, I got bullish on Emerging Markets (“EM”) for 2024, as the asset class has underperformed for over a decade. If the global economy holds up, I can see institutional investors…
Sundry Photography In our previous analysis of Qorvo (NASDAQ:QRVO) stock, we believed the company’s significant exposure to its Asian customers (55% of revenue) and supported its growth prospects, especially in the mid-market 5G smartphones with a 77% market share. We believed the company’s commitment to 5G positioned it favorably for expansion, with a projected 7.6%…
tum3123 I last wrote about the VanEck Emerging Markets High Yield Bond ETF (NYSEARCA:HYEM) in late 2022. In that article, I argued that HYEM’s strong dividend yield and prospective dividend growth made the fund a buy. Since then, returns have been mediocre, as market interest rates have risen. On the other hand, the fund has…
FrankRamspott With inflation easing and cracks emerging in the US labor markets, the days of Fed-driven rate hike pressures are likely at an end. The key risk, though, is that the US yield curve remains inverted, and until term premia normalizes, emerging market central banks may be kept on the defensive. Note the surprise rate…
Leadinglights/iStock via Getty Images By Ewa Manthey, Commodities Strategist Steel scrap is key in establishing a circular economy Global ferrous scrap consumption in steel production is set to rise as efforts to reduce the industry’s environmental footprint are ramped up alongside an expected increase in the share of Electric Arc Furnace (EAF) in the global…
PhonlamaiPhoto By Justin Leverenz, CFA, Chief Investment Officer, Developing Markets Equities Andy Lin, Senior Research Analyst Lun Rao, CFA, Senior Research Analyst The world has seen many energy transitions over the past couple of hundred years, from biomass to coal to oil to natural gas. But we believe that the current energy transition, from fossil-based…
tum3123 By Liqian Ren Emerging markets (EM) have traditionally had higher interest rates than the U.S. While hedging can reduce risk, it also comes with a significant cost, diminishing the benefits a U.S. investor can reap from hedging. Consequently, we propose dynamic currency hedging in emerging market portfolios as a potential solution. This approach has…
samxmeg SCHE strategy and portfolio Schwab Emerging Markets Equity ETF (NYSEARCA:SCHE) started investing operations on 1/14/2010 and tracks the FTSE Emerging Index. It has 1918 holdings, a trailing 12-month yield of 3.17% and an expense ratio of 0.11%. Distributions are paid semi-annually. As described by FTSE, The FTSE Emerging Index provides investors with a comprehensive…
aluxum By Bradley Krom WisdomTree launched our first currency (FX) funds back in 2008, at a time when short-term interest rates were still anemic on account of the global financial crisis. Now, short-term rates have risen to levels not seen since the mid-2000s, while longer-duration fixed income strategies have gone negative three years in a…
tum3123 Allocation and stock selection in Turkey, Georgia and Kazakhstan outperformed, while Brazil allocation resulted in an overall negative quarterly performance for the Fund. The VanEck Emerging Markets Fund (the “Fund”) slightly outperformed the MSCI Emerging Markets Investable Market Index (“MSCI EM IMI” or the “Index”) on the quarter-to-date basis ending September 30, 2023 (-1.96%…
tum3123 Global economic growth near-stalled for a second straight month in September amid a sustained contraction of developed market activity and an easing in the rate of emerging market expansion, according to the latest PMI indications. Slower expansions of both manufacturing and service sector activity caused overall emerging market output to expand at the weakest…
tum3123 While China’s recovery will aid trade and benefit other emerging markets (EMs), at a sector level, local, consumption-driven growth will remain a core theme for many EM economies, according to Franklin Templeton Emerging Markets Equity. Three things we are thinking about today: Golden Week: The first week of October in China is known as…
Portugal2004 As I briefly mentioned the last time I covered the firm, emerging markets and ‘premiumization’ (i.e. driving higher prices) likely represent Heineken’s (OTCQX:HEINY)(OTCQX:HINKF) best shot in terms of long-term earnings growth. At the end of the day the global brewers, of which Heineken is #2 to Anheuser-Busch InBev (BUD), only have so many drivers…
2d illustrations and photos The Schwab Fundamental Emerging Markets Large Company ETF (NYSEARCA:FNDE) invests across international stocks from developing economies. The attraction here is an expectation for higher long-term growth, with emerging markets (EM) benefiting from trends like an expanding middle class and rising per capita consumption of valued added services. That said, the understanding…
The platform’s usage is not limited to individual users but also extends to educational organizations. Global crypto exchange Binance’s open-access blockchain and crypto education platform Binance Academy has reported a 62% increase in the number of users. According to platform data, from September 2022 to August 2023 there was a marked increase in individuals seeking…
tum3123 By Chetan Sehgal, CFA, Senior Managing Director, Director of Portfolio Management, Franklin Templeton Emerging Markets Equity Emerging markets offer dynamic growth opportunities for investors, from consumer goods to logistics to technology. Find out more from Franklin Templeton Emerging Markets Equity’s Chetan Sehgal. Many consumers probably don’t realize the importance emerging markets play in their…
wwing Introduction Crew Energy Inc. (OTCQB:CWEGF) is a Canadian gas-oriented producer that we last wrote up with a strong buy in the low $3’s in February, noting however the macro environment for gas might make growth difficult over the short haul. That’s still true, but there are some catalysts with a 3-6 month timeline that…
vale_t Rubis (OTCPK:RBSFY) is a French company operating internationally in the energy distribution, energy storage and handling and renewables businesses. For investors Rubis is an emerging market play tapping into the development of road infrastructure, demographic growth and increase in the standard of living. Rubis has a long track record of profitable growth, it operates…
SAKDAWUT14/iStock via Getty Images iShares MSCI Emerging Markets ETF (NYSEARCA:EEM) covers more than 2 thousand stocks that represent a number of economies around the world. Some consider this fund as a good way to take advantage of world’s fastest growing economies, many of which are expected to grow faster than the US economy, but I…
Torsten Asmus/iStock via Getty Images Seeks Growth & Capital Preservation (Performance (%) as of 6-30-2023) QTR YTD 1 Yr 3 Yr 5 Yr 10 Yr Inception Polen Emerging Markets Growth (Gross) -2.36 2.41 -0.49 6.06 -2.93 24.89 21.52 Polen Emerging Markets Growth ((Net)) -2.42 2.30 -0.88 4.98 -4.61 18.23 14.18 MSCI Emerging Markets (Net)) 0.90…
Editor’s note: Seeking Alpha is proud to welcome Brennan Basnicki as a new contributor. It’s easy to become a Seeking Alpha contributor and earn money for your best investment ideas. Active contributors also get free access to SA Premium. Click here to find out more » Art Wager/iStock via Getty Images After a two-year run…
sykono Essential Properties Realty Trust, Inc. (NYSE:EPRT), unlike many other real estate investment trusts, or REITs, has held up quite well this year, suggesting it possesses significant idiosyncratic strengths. Global and U.S. REITs alike have suffered since the turn of the year as disinflation coupled with economic tail risk has acted unfavorably against the sub-asset…
ipopba The slowdown in growth that had been more prominent in developed markets is now hitting emerging markets going into the second half of 2023. July’s PMI data showed emerging markets expanding at the slowest pace in six months, supported chiefly by service sector growth as manufacturing output near-stalled. Rising borrowing costs, weakening trade conditions…
Pgiam/iStock via Getty Images ~ by Snehasish Chaudhuri, MBA (Finance). WisdomTree Emerging Markets High Dividend Fund ETF (NYSEARCA:DEM) is an emerging market exchange-traded fund, or ETF, that was launched on July 13, 2007, by WisdomTree Investments, Inc. The fund is co-managed by WisdomTree Asset Management, Inc. and Mellon Investments Corporation. It invests in high dividend…
MadamLead/iStock via Getty Images DEAR BARON EMERGING MARKETS FUND SHAREHOLDER: PERFORMANCE Baron Emerging Markets Fund® (the Fund) gained 3.81% (Institutional Shares) during the second quarter of 2023, while its primary benchmark index, the MSCI EM Index, returned 0.90%. The MSCI EM IMI Growth Index gained 0.23% for the quarter. The Fund outperformed both the primary…
Receive free Emerging market investing updates We’ll send you a myFT Daily Digest email rounding up the latest Emerging market investing news every morning. Bonds issued by some of the world’s poorest economies have been among the best performers in debt markets this year, helped by signs that global interest rates are close to peaking…
This is an opinion editorial by Ben Caselin, chief strategy officer for cryptocurrency exchange MaskEx. As we navigate the uncharted waters of the digital revolution, bitcoin is increasingly finding their footing in economies grappling with currency crises. Countries such as Turkey, Lebanon, Nigeria and Argentina are already seeing bitcoin reach, or start to approximate, new…