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China's pragmatic zero-Covid spike and Foxconn riot hit global manufacturing

China's more pragmatic 'zero-Covid' inevitably spikes infections: witness lockdown in Zhengzhou and Foxconn factory riot. Reminder of China's deep links with global supply chain, particularly top alternative manufacturing location Vietnam. 'China +1'...
Tellimer Research Hasnain
Hasnain Malik @ Tellimer Research 24 November 2022
China's pragmatic zero-Covid spike and Foxconn riot hit global manufacturing
China's pragmatic zero-Covid spike and Foxconn riot hit global manufacturing

EM sovereign bond issuance in October was the second highest month this year

EM hard currency sovereign bond issuance surged to US$11bn in October, albeit this was mostly due to KSA. It brings total issuance to US$79bn ytd, still only half the amount seen in the same period last year. Challenging EM financing conditions saw y...
Tellimer Research Stuart
Stuart Culverhouse @ Tellimer Research 1 November 2022
EM sovereign bond issuance in October was the second highest month this year
EM sovereign bond issuance in October was the second highest month this year

IMF updated forecasts show even faster growth in emerging vs developed: 2 charts

Amid overall gloomy outlook, updated forecasts for 2023 imply bigger gap between faster-growth EM and slower-growth DM. In Large EM, India and Indonesia, and in Small EM, Bangladesh, Kenya, Philippines and Vietnam stand out for fast growth. Rare unch...
Tellimer Research Hasnain
Hasnain Malik @ Tellimer Research 12 October 2022
IMF updated forecasts show even faster growth in emerging vs developed: 2 charts
IMF updated forecasts show even faster growth in emerging vs developed: 2 charts

Asia Emerging Markets: Top-Down Macro and Bottom-Up Micro

We are positive: on just 3 Asian Emerging Markets. We are negative: on the remaining 7 Asian markets. We believe: in the following 10 Asian single stocks.
Crystal Shore Dashboards Gregory
Gregory Shore @ Crystal Shore Dashboards 10 October 2022

Food prices drop in July, down 9% mom, albeit still up 55% from trough

The latest UN FAO World Food Price index (published on 5 August) declined again from the March 2022 all-time high: down 8.6% in July, following 0.3%, 0.8% and 2.3% declines in April, May and June, respectively, but still up 13% yoy, and up 55% from t...
Tellimer Research Hasnain
Hasnain Malik @ Tellimer Research 7 August 2022
Food prices drop in July, down 9% mom, albeit still up 55% from trough
Food prices drop in July, down 9% mom, albeit still up 55% from trough

Digital payments: Scale is driving sector-beating operating margin expansion

Digital payments firms lead the emerging markets fintech scene. Our analysis of key performance metrics shows that payments fintechs have witnessed strong growth in operating profit and users, but their revenue growth has lagged other fintech sectors...
Tellimer Research Rahul
Rahul Shah @ Tellimer Research 25 July 2022
Digital payments: Scale is driving sector-beating operating margin expansion
Digital payments: Scale is driving sector-beating operating margin expansion