EM Fund Stock Picks & Country Commentaries (November 17 2024)
US elections & EM impacts, Trump may help Vietnam industrial park stocks, India's tax hiccups for funds + valuations have declined, “picks & shovels” AI companies, Africa frontier markets, etc.
As of mid-November, some new fund updates have dropped (see our continuously updated post containing all funds is here), but starting again with new research pieces about how the US elections will impact various investments:
🔬🌐 Trump wins – what does it mean for sustainability? (abrdn) - Green stocks wobbled as Donald Trump won the US presidential election. Here’s what a second Trump term could mean for sustainability.
🔬🌐 Election Reflections (Allspring) - With postelection macro trends and the Republican agenda now in the forefront, Allspring’s fixed income teams highlight opportunities and risks for investors to consider in positioning portfolios. Key takeaways
The U.S. election outcome broadly supports corporate credit given the likelihood of less regulation and a more favorable corporate and capital-gain tax regime.
Pro-economic policy (tax cuts/less regulation), larger fiscal deficits, and tariffs are viewed as inflationary and will likely lead to modestly higher yields.
Yield-advantaged sectors such as highly rated corporate, asset-backed, and mortgage-backed securities should continue to benefit short-duration portfolios.
The potentially negative impact of far-reaching tariffs primarily focused on China presents a meaningful risk.
🔬🌐 Weekly Market Update – After the US election, what’s next? (BNP Paribas)
🎙️🌐 There is a transcript for this Guggenheim Investments podcast: Macro Markets Podcast Episode 60: Post-FOMC & Post-Election Analysis and Outlook (24:01 Minutes) - Steve Brown, Chief Investment Officer for Fixed Income, joins Macro Markets to discuss portfolio strategy and our outlook following the U.S. election and the Federal Reserve’s most recent rate cut.
Invesco has these pieces:
🔬🌐 Politics, central banks, and what matters most to markets - Between the US presidential election and multiple central bank meetings across the globe, markets had a lot to absorb last week. Here are my key takeaways about what we’ve learned and the implications for economies and markets.
🔬🌐 What are markets telling us about Trump’s decisive victory? - Markets got the clarity they crave with Donald Trump’s decisive victory in the presidential election. Now the focus shifts to taxes, deficits, tariffs, immigration and more.
🔬🌐 What Trump’s win may mean for the markets and economy - Based on his campaign pledges, here are some things we’ll be watching for from President-elect Donald Trump and what they may mean for the economy and markets.
🔬🌐 Election Economics (Metlife) - With Republicans also securing control of the House of Representatives, this means that a fair number of Trump and/or Republican priorities could be realized. Below are three that we believe will have the largest economic effects.
🔬🌐 The US election: landslides and cross-currents (Platinum Asset Management) - The US election ended in a landslide. But what does it mean for investors?
In all 50 states the Republican vote increased on 2020
Ninety percent of US counties saw swings to the Republicans
Donald Trump became the first Republican candidate since a post-9/11 George W Bush to win the popular vote.
🔬🌐 This Robeco piece has a short and a long version: MAGA 2.0 – Markets Are Great Again after Trump victory - Markets have taken the sweeping victory of Donald Trump in their stride, though eyes will eventually focus on the financial cost of it, says portfolio manager Lauren Mariano.
New Asia Fund Documents & Research
📈🌏 Abrdn Asia Focus PLC (LON: AAS)’s abrdn Asia Focus Investment Manager's Review and 🎬 abrdn Asia Focus: Manager update video November 2024 (12:43 Minutes) mentioned or discussed a number of stocks.
Invesco has these outlooks: