Emerging Markets 2002 Roundup: Drivers and Landmines
Currency and regional/country bets were the key investment calls for emerging markets equities in the year through November.
Emerging/Frontier
Emerging Markets Debt
An overview of emerging debt including correlations with other asset classes, risks (volatility, default, interest rate, currency), investment vehicles, and benchmarks. Exhibits cover market capitalization, credit quality, country debt ratios, Brady bond yields, benchmark returns, and fees and performance data on representative emerging debt managers.
Are Emerging Markets Equities Still Cheap?
To gauge the effect of MSCI Emerging Markets Free’s stunning rally on their valuations we use four metrics—price-to-earnings, price-to-book, price-to-cash earnings, and dividend yield—to compare current valuations to historical emerging markets valuations and to developed markets equity valuations. Although the end result is unequivocal, we nevertheless find that emerging markets equities remain inexpensive.
If Argentina Defaults: Assessing Contagion in Emerging Markets
Argentina may have dodged the bullet with its recent debt swap, but pressures will continue to build. Because emerging markets are notoriously volatile and unpredictable, risk-averse investors should tread cautiously in this asset class for the time being.