Deglobalization

KyrgyzstanRussiaCurrenciesUkraineInflationSaudi ArabiaUAELICsDSSIBrazilFXSri LankaIranCôte d'IvoireBangladeshCommoditiesMacroSouth AfricaTurkeyDe-dollarizationKenyaEgyptAEsDeglobalizationEMDEsAdvancedEconomiesIsraelArgentinaSovereignDebtSenegalGeopoliticsIndiaChina
InflationInflation
+4+4
Tariffs poised to re-ignite U.S. inflation

Tariffs poised to re-ignite U.S. inflation

Trump's levies could send U.S. inflation 1.4 percentage points higher.

Paul Della Guardia
Paul Della Guardia
CurrenciesCurrencies
+1+1
The Trump Slump begins

The Trump Slump begins

The U.S. tariff bazooka rips through global markets as investors flock to havens

Paul Della Guardia
Paul Della Guardia
DeglobalizationDeglobalization
+2+2
Auto tariffs further dent U.S. exceptionalism

Auto tariffs further dent U.S. exceptionalism

DXY and SPX are both down again but don't tend to stay down together for long.

Paul Della Guardia
Paul Della Guardia
UAEUAE
+3+3
Investors search for trade war havens

Investors search for trade war havens

Allocators eye tariff spat hedges but spare U.S. and Canadian government bonds.

Paul Della Guardia
Paul Della Guardia
DeglobalizationDeglobalization
+3+3
The Times They Are a-Changin'

The Times They Are a-Changin'

EM sovereign debt will no longer be the exclusive focus of this newsletter.

Paul Della Guardia
Paul Della Guardia
AEsAEs
+4+4
The role reversal in emerging and mature markets

The role reversal in emerging and mature markets

Blundering policy volatility has receded in many EMs but increased in the G7.

Paul Della Guardia
Paul Della Guardia
KyrgyzstanKyrgyzstan
+4+4
Kyrgyzstan plans maiden Eurobond amid sanctions controversy

Kyrgyzstan plans maiden Eurobond amid sanctions controversy

The Central Asian republic is aiming to place a $1.7bn debut hard currency bond as sanctions-busting accusations mount.

Paul Della Guardia
Paul Della Guardia
De-dollarizationDe-dollarization
+4+4
Why Trump's tariffs aren't all bad

Why Trump's tariffs aren't all bad

Global trade imbalances are out of control and need to be reined in.

Paul Della Guardia
Paul Della Guardia
BangladeshBangladesh
+2+2
The 2024 "Country of the Year"

The 2024 "Country of the Year"

The Economist's annual designation is notable for how poorly past winners have fared in ensuing years.

Paul Della Guardia
Paul Della Guardia
MacroMacro
+2+2
Winner take all: the year of the unipolar market

Winner take all: the year of the unipolar market

Global capital markets are becoming increasingly unipolar even as geopolitics become more multipolar.

Paul Della Guardia
Paul Della Guardia
CurrenciesCurrencies
+7+7
Sink or swim: Trump 2.0 reality confronts emerging markets

Sink or swim: Trump 2.0 reality confronts emerging markets

Tariffs, deglobalization set to shift growth from EMs to the U.S.

Paul Della Guardia
Paul Della Guardia
MacroMacro
+3+3
Trump's red wave puts emerging markets under water

Trump's red wave puts emerging markets under water

Double-whammy of higher U.S. yields and stronger dollar, with peak deglobalization still to come

Paul Della Guardia
Paul Della Guardia