Kazakhstan Moves Front and Center

Kazakhstan Moves Front and Center

If stature and confidence are the making of a robust frontier-market story, then Kazakhstan may have a very good run. The local equity market has already gained about 28% in dollar terms this year. For diplomats, unfolding Kazakh-sponsored talks on the Syrian crisis spotlights the nation’s role on the global stage. For  More ►

Polish Stocks Take Global Lead

Polish Stocks Take Global Lead

Warsaw-traded shares are raising a few eyebrows among cross-border investors. In the year-to-date period, Polish equities have delivered gains in excess of 12% in US dollar terms. One reason is that allocators are more comfortable with the Law and Justice Party, despite the political cloud that has lingered since  More ►

Myanmar Lags International Expectations

Myanmar Lags International Expectations

Global investors were quick to hype the unfolding reform story in Myanmar. Those energies may have been misspent. The World Bank has materially reduced its country growth forecast for 2017. GDP activity should now expand by 6.9% over the year ahead, rather than 8.4%. On the surface, that still sounds promising, but it is  More ►

Turkish Assets Move to Red Zone

Turkish Assets Move to Red Zone

Global investors are abandoning Turkish assets as the lira hits historical lows. Since last May, the currency has fallen 26% against the US dollar in a storm of debilitating fundamentals. The central bank has materially missed inflation targets; the tourism sector has been undercut by terrorist attacks. In theory, the collapsing  More ►

Jakarta Fires Wall Street Firm

Jakarta Fires Wall Street Firm

Indonesian assets are greater than a single commentary, even when the analysis is published by a lofty name like JPMorgan. But Jakarta has taken issue with being called a “loser” under the Trump administration; the government has abruptly severed ties with the firm. Bizarre. Officials may be too sensitive to criticism.  More ►

Hungary Defies European Malaise

Hungary Defies European Malaise

Budapest-traded stocks surprised many in 2016. Based on data from MSCI, the broad equity market delivered a stunning dollar-based return of 32%. Investors are drawn to Hungary because of its vibrant export backbone, despite uncertain growth in core European economies. About 90% of GDP can be attributed to exports, which are  More ►