Seek opportunities, but be aware of short-term volatility

Emerging markets (EM) started 2019 on a strong footing and, as a result, some excessive valuation gaps have been partially closed. Yet, we continue to see opportunities in all EM segments (equity, bonds in hard currency and in local currency) with a medium to long-term view.

In the short term, we anticipate phases of volatility as geopolitical uncertainty remains high (especially on trade negotiations) and China is engineering a soft landing of its economy. Against this backdrop, we believe investors could seek entry points in periods of volatility to further add into EM assets.

Understanding how emerging economies are evolving and how to play them in the current environment is a key objective for our clients. Therefore, we have committed to build this publication, with the goal to outline our current vision of the emerging world and the key convictions, through key charts that can help explain the investment narrative.

The piece combines views from our investment experts, macro and strategy research teams, all located across our Amundi global footprint and the Investment Insights team which contributed to the story telling in what we hope you will find both an insightful and helpful format.

To find out more, download the full paper


Head of Emerging Macro Strategy, Amundi Investment Institute
RC - Author - BOROWSKI Didier
Head of Macro Policy Research, Amundi Investment Institute
RC - Author - BERTINO Claudia
Head of Investment Insights, Publishing and Client Development, Amundi Investment Institute
RC - Author - DELBO Debora
Senior EM Macro Strategist, Amundi Investment Institute
Co-Head of Emerging Markets Corporate and HY
RC - Author - FIOROT Laura
Head of Investment Insights & Client Divisions, Amundi Investment Institute
Head of EM Equity
Amundi Investment Insights Unit
Co-Head of Emerging Markets Fixed Income
Global Head of Emerging Markets
Senior Economist
RC - Author - HERVE Karine
Senior EM Macro Strategist, Amundi Investment Institute