Global Strategy Webinar: Opportunity beckons in EM laggards – with Jay Pelosky
- Risk should remain on – US markets are still cheap and EM is well placed to outperform
- The US dollar will weaken from here
- Bullish on the Commodity Supercycle
We hosted a client webinar yesterday with Jay Pelosky, Multi-Asset Global Strategist at TPW Advisory. Jay is a former Global Strategist at Morgan Stanley, with 35 years of strategy experience on Wall Street. He contributes his views on Tellimer Insights via the TPW channel.
In the webinar, Jay provided his take on all global asset classes, linking it to the direction of the dollar, commodities performance and, ultimately, the case for emerging markets.
Jay's key takeaways for EM investors:
Risk on is still on... stay in it. As long as you believe the US will continue to perform (which Jay does), EM will follow and probably do better.
Despite all-time highs, equities are still cheap (see the fascinating chart on page 11 of the webinar presentation).
USD to weaken. European and Asian growth is stronger than the US.
Bullish on EM, in particular LatAm and, specifically, Brazil.
Also Bullish on India, for recovery in 2022.
Commodity Supercycle Bull. And all sub-sectors, except possibly agriculture.
The replay of the webinar and the associated presentation are now available online:
Presentation: 2H Outlook: Opportunity Beckons In EM Laggards
Selected TPW articles
- 1 Macro Analysis/Global Central bank monetisation raises risk of inflation and currency crisis
- 2 Weekend Reading/El Salvador Why Facebook and CBDC could be real winners from El Salvador’s Bitcoin embrace
- 3 Flash Report/Uruguay dLocal: Strong post-IPO rally reaffirms EM digital payments infrastructure story
- 4 Strategy Note/Global G7's 'Build Back Better World' is not an answer to China's Belt and Road
- 5 Macro Analysis/Global G7 reiterates support for SDR allocation and seeks to boost its impact
This report is independent investment research as contemplated by COBS 12.2 of the FCA Handbook and is a research recommendation under COBS 12.4 of the FCA Handbook. Where it is not technically a res...