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Argentina's IMF staff level agreement is positive, but still a long way to go

The IMF announced on 8 June that it had reached staff level agreement on the first review of Argentina's new programme. The IMF welcomed the authorities’ commitment to implementing additional policy measures to achieve the annual objectives (although...
Tellimer Research Stuart
Stuart Culverhouse @ Tellimer Research 10 June 2022
Argentina's IMF staff level agreement is positive, but still a long way to go
Argentina's IMF staff level agreement is positive, but still a long way to go

Food prices off the boil for now, down 0.6% mom in May, still up 73% from trough

The latest UN FAO World Food Price index (published on 3 June) declined slightly again from the March all-time high: down 0.6% in May, but up 23% yoy, and up 73% from the May 2020 trough. This is the second consecutive month of slight moderation. Veg...
Tellimer Research Hasnain
Hasnain Malik @ Tellimer Research 3 June 2022
Food prices off the boil for now, down 0.6% mom in May, still up 73% from trough
Food prices off the boil for now, down 0.6% mom in May, still up 73% from trough

The EM Tech firms best placed to survive the rout

This week's warning from Snap that “the macroeconomic environment has deteriorated further and faster than anticipated” shook the Tech sector's foundations. The company expects its EBITDA this quarter to come in “below the low end” of its guidance ra...
Tellimer Research Nirgunan
Nirgunan Tiruchelvam @ Tellimer Research 27 May 2022
The EM Tech firms best placed to survive the rout
The EM Tech firms best placed to survive the rout

The good, the bad and the ugly in the EM tech rout

Most readers will know Gloria Gaynor’s hit “I Will Survive”. The FAANGs are down an average of 45% in the same period. It took until August 2017 for the index to regain its March 2000 high (on an inflation and dividend-adjusted basis). Unlike the dot...
Tellimer Research Nirgunan
Nirgunan Tiruchelvam @ Tellimer Research 16 May 2022
The good, the bad and the ugly in the EM tech rout
The good, the bad and the ugly in the EM tech rout

Vital Signs: Actionable charts

In this product we rank the most positive and negative domestic stocks, filter the symbols by market-cap and trading volume, and then divide the companies into sectors and groups. We then manually look through charts leadership/changes, bottoms-up/t....
Vermilion Research David
David Nicoski @ Vermilion Research 19 April 2022

Argentina's IMF programme in eight charts

We summarise our research on Argentina and the recently approved IMF programme. It's been long time coming, but now comes the hard part – implementation. Meanwhile investors are sceptical that the authorities can rise to the challenge.
Tellimer Research Stuart
Stuart Culverhouse @ Tellimer Research 4 April 2022
Argentina's IMF programme in eight charts
Argentina's IMF programme in eight charts