Frontier market turmoil: Argentina’s value, Sri Lanka’s crisis, Egyptian FX worries
Frontier markets will continue to be volatile in the near term, but bond valuations are attractive with plenty of arbitrage opportunities. We see value in Argentine bonds, as the country should benefit from higher commodity prices and liquidity risks are contained; we focus on the light at the end of Sri Lanka’s tunnel, with markets failing to price in the possibility of a successful IMF program; and also our concerns that further depreciation may be consistent with Egyptian stabilisation efforts.
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Gabriel Sterne
Head of Global Strategy Services and EM Macro Research
Gabriel Sterne
Head of Global Strategy Services and EM Macro Research
Gabriel delivers macro-economic products tailored for the financial markets, as Head of a team that integrates global strategy and EM macro views. Recently he has published most on populism, demographics and other drivers of low global yields, and the evolution of global fragilities as expansions mature. On the EM side he is a global expert on sovereign crisis and debt restructuring issues.
Regis Chatellier
Director EM Strategy
Regis Chatellier
Director EM Strategy
Regis is a senior strategist in charge of global emerging markets. He covers the sovereign hard currency debt, FX and local rates markets, combining top-down macro research with bottom-up/quant modelling approaches. Prior to joining Oxford Economics, Regis worked for more than 20 years in investment banks. He did his studies at Sciences Po. Paris (Economics & Finance) and he holds a Master’s degree in Economics from the University of Nantes.
Maya Senussi
Senior Economist, Middle East
Maya Senussi
Senior Economist, Middle East
Maya Senussi is responsible for Oxford Economics’ forecasting and research in the Middle East team, with a specific focus on Turkey and several GCC economies.
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