Deglobalization

KyrgyzstanRussiaCurrenciesUkraineInflationEl SalvadorSaudi ArabiaUAELICsDSSIBrazilFXSri LankaIranKazakhstanCôte d'IvoireMexicoBangladeshCommoditiesMacroSouth AfricaTurkeyDe-dollarizationKenyaEgyptAEsDeglobalizationEMDEsAdvancedEconomiesIsraelArgentinaSovereignDebtSenegalGeopoliticsSurinameIndiaChina
South AfricaSouth Africa
+1+1
The 30% headline tariff figure overstates risks to South Africa

The 30% headline tariff figure overstates risks to South Africa

The country's current account deficit is likely to widen only slightly due to tariffs.

Paul Della Guardia
Paul Della Guardia
De-dollarizationDe-dollarization
+2+2
Can the weak-dollar tailwind for emerging markets last?

Can the weak-dollar tailwind for emerging markets last?

USD weakness and U.S. outflows have been a boon to EM in 2025, so far.

Paul Della Guardia
Paul Della Guardia
InflationInflation
+4+4
Can tariffs result in higher imported inflation?

Can tariffs result in higher imported inflation?

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

Paul Della Guardia
Paul Della Guardia
CurrenciesCurrencies
+1+1
Tariff announcement drives market rout

Tariff announcement drives market rout

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

Paul Della Guardia
Paul Della Guardia
DeglobalizationDeglobalization
+2+2
Chilly market reaction to auto tariffs

Chilly market reaction to auto tariffs

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

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 that bad

Why Trump's tariffs aren't that 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