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
Global Strategy Webinar: Opportunity beckons in EM laggards – with Jay Pelosky

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:

Replay: Global Strategy: Opportunity Beckons in EM Laggards

Presentation: 2H Outlook: Opportunity Beckons In EM Laggards

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