US Secretary of State Mike Pompeo spoke of creating a 'clean network' that would limit Chinese companies' access to US data. We said in our research earlier this week that 'Splinternet' (restrictions and divisions across the global internet) is a particularly thorny issue for EM investors because of the dominance Chinese technology-related companies now have in the EM equity index. Click to read the full report.

The new terms agreed with its biggest creditors imply a recovery value of c55 cents on the dollar, but the deal still needs to pass a vote by bondholders. Capital Markets Argentina have looked at the impact the deal could have on Argentina equities.

Biden’s campaign has set out plans to spend US$280mn on television and digital advertisements between now and election day, in a major investment targeting voters in key swing states. The Trump campaign has reportedly reserved US$145mn in TV ads between now and November, according to the FT. With less than three months to go until the 3 November election, we take a look at the implications of a Biden presidency for emerging markets.

The deal comes a year after Reliance Jio signed a similar partnership with Microsoft’s Azure platform. This is the latest move by a US tech giant in India, where Facebook, Google and Microsoft have all made recent investments. When Amazon was eyeing a US$2bn stake in Bharti Airtel a month ago, we had said that the investments in India could signal more Big Tech deals in EM.

Countries with current account deficits are vulnerable to capital outflows, according to the Fund. Click here for our IMF emergency financing tracker to see the complete list of 87 countries that we know of so far that have either sought, or are seeking, emergency help from the IMF in response to the Covid-19 pandemic.