CALL TODAY | #EmergingOutflows Round II: This Time Is Actually Different

Takeaway: Join us on a conference call today at 1pm EST to discuss our outlook for emerging markets and the associated investment implications.

Emerging market equities, bonds and currencies are once again selling off HARD. Please join the Hedgeye Macro team for a conference call today, December 16th, at 1:00pm EST to discuss why this time actually is different:

  • Toll Free Number:
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  • Conference ID/Password: 13597481
  • Materials: CLICK HERE

Since our September 23rd [bearish] note titled, "EMERGING MARKETS: THE EM RELIEF RALLY IS LIKELY OVER", the MSCI EM Index has declined -10.5%, the JPM EM Currency Index has declined -7.1% and OAS on the Bloomberg USD EM Composite Index has widened +118bps to 425bps.

While it's clear to us consensus among the investment community finally understands the negative impact of a stronger U.S. dollar upon emerging market asset prices, we don't think the associated risks are even in the area code of being priced in at the current juncture. In fact, we anticipate considerable downside from current prices, citing a plethora of risks that aren't even being considered by the preponderance of investors.  

KEY TOPICS WILL INCLUDE

  • Where is consensus on emerging markets?: a review of recent developments to help appropriately frame the debate
  • Which countries, regions and asset classes are most risky?: using our proprietary EM Crisis Risk Model to quantify and summarize the dispersion of fundamental risks among EM economies (NOTE: we have long ideas too!)
  • What are the risks no one is talking about?: quantifying the systemic risk across the EM space and how said risk might spillover into global financial markets more broadly
  • How do you make money with this information?: providing actionable long (overweight) and short (underweight) recommendations at the asset class, regional and country levels

As always, there will be a live Q&A session at the end of the call. Please email to submit a question to the queue.

We look forward to having you join us!

Darius Dale

Associate: Macro Team