Strategy Note /
Global

Omicron Covid in emerging markets

  • Covid precedent: sell-off temporary, tech outperforms at first, commodities recover before manufacturing, tourism lags

  • Differences today (Omicron) vs Delta in Q1 2021: 1) higher vaccination and prior infection, 2) less space for stimulus

  • We chart vaccination, prior infection, lockdowns, real interest rates, fiscal deficits across EM and key DM comparables

Omicron Covid in emerging markets
Hasnain Malik
Hasnain Malik

Strategy & Head of Equity Research

Tellimer Research
28 November 2021
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