Emerging Markets

GLOBAL MARKET CALL: 'Go Global' Should Outperform When Strait Reopens

May 31, 2026 4 min read paid

Our call to Go Global rather than Stay Home has paid off so far this year, despite the latest war in the Middle East, which boosted Stay Home, especially in March. However, Go Global was mostly driven by the AI trade in South Korea and Taiwan. The Emerging Markets MSCI ETF (EEM) is up 25.4% ytd against 10.9% for the S&P 500. Moreover, we recommended staying

Ed Yardeni
Toby Hearst

GLOBAL MARKET CALL: US-Iran Deal Would Boost Go Global Investment Strategy

May 25, 2026 5 min read paid

On Sunday night, Reuters reported that oil prices slipped to a two-week low as US-Iran talks seemed to be moving closer to a peace deal. Then again, the news service also reported that President Donald Trump is in no rush to make a deal and that the US will continue to blockade Iran. If so, then Iran will continue to blockade the Strait of Hormuz. Nevertheless, Japan's Nikkei

Ed Yardeni
Toby Hearst

GLOBAL CALL: Why Are Stock Prices Rising Around The World?

Apr 27, 2026 3 min read paid

Stock markets around the world sold off sharply after the US and Israel attacked Iran on February 28. Despite the blockade of the Strait of Hormuz since the war began, global stock prices have rebounded since the end of March. That is surprising, given that many countries' economies are vulnerable to stagflation and even recessions if oil prices remain elevated and oil shortages occur. Even more surprising is that

Ed Yardeni

Emerging Markets Continuing To Emerge

Feb 9, 2026 3 min read paid

The US MSCI continues to underperform in the global stock market derby as it did last year (chart). Does this mean that American exceptionalism, which was touted as recently as 2024, is kaput? Is this another sign of de-dollarization? We don't think so. America remains exceptional, and foreigners continue to invest in the US. However, there are plenty of exceptional companies overseas that have also attracted global investors.

Ed Yardeni

Is Gold The New Bitcoin?

Jan 27, 2026 4 min read paid

Proponents of bitcoin have been calling it “digital gold.” Both the cryptocurrency and the precious metal are impossible to value because they don't pay any interest or dividends. Bitcoin is digital, making it potentially vulnerable someday to hacking by quantum-computing algorithms, while gold needs to be stored in a vault. Bitcoin's supply is limited, while the potential demand for it is from everyone on Earth. The

Ed Yardeni

Off To The Races

Jan 5, 2026 2 min read paid

It's been a good year so far, even though only two trading days have gone by in 2026. The S&P 500, DJIA, and Nasdaq all rose today despite the crisis in Venezuela over the weekend. The DJIA hit a record high. We've often observed that geopolitical crises create buying opportunities. This time, stock market investors chose to emphasize the positive effects of this crisis

Ed Yardeni

Will Emerging Markets Outperform Again In 2026?

Dec 31, 2025 3 min read paid

The Emerging Markets (EM) MSCI stock price index may outperform both the US MSCI stock price index and the Developed Countries ex-US MSCI stock price index in 2026. It outperformed the former in 2025 but underperformed the latter and many of its constituents. The broader EM outperformance we expect in 2026 might last for a few years. That's because advanced economies have, on average, stagnated in both production

Ed Yardeni

2024 Was A Roaringly Good Year For Stocks

Jan 1, 2025 3 min read

This is the time of year when we all wish one another a healthy, happy, and prosperous new year. The past two years were certainly prosperous ones for equities investors, as the S&P 500 rose 23.3% following a 24.2% gain in 2023. Those gains more than offset the 19.4% loss during 2022. On average, the S&P 500 is up 9.4% per year

Ed Yardeni

Risk & Reward In Emerging Markets

Oct 24, 2024 3 min read paid

The three-day BRICS summit of emerging market economies (EMEs) in Kazan, Russia concluded today. The group launched by Brazil, Russia, India, and China in 2006 has done little in terms of rivaling US global economic and financial hegemony. However, the Russia-Ukraine war and fears of financial sanctions imposed by the US and its allies on adversaries have caused many countries to align closer to Russia and China or apply to

Ed Yardeni

Goods Economy Still On The Ropes

Jun 3, 2024 3 min read paid

A growth recession is still rolling through the goods sector. Real consumer spending on goods has been flat at a record high since early 2022. We expect that spending on services, technology, and onshoring will keep the economy growing. There's still no stagflation or recession in our forecast. Today's M-PMI report was weaker-than-expected. That followed Friday's weaker-than-expected personal income report with spending on goods

Ed Yardeni

Huge Negative Wealth Effect In China

Jan 23, 2024 2 min read

China might be in a recession or going into one. That’s a controversial statement since real GDP rose 5.2% y/y during Q4-2023, according to the official data from the National Bureau of Statistics of China (NBS). The NBS also reported that industrial production rose 6.8% y/y in December and that inflation-adjusted retail sales increased 7.7% last month (chart). Those are not recession readings. China’

Ed Yardeni

Continue To Underweight Commodities & Emerging Markets In Global Portfolios

Dec 11, 2023 2 min read

The global economy is growing, but at a slow pace. Much of the weakness is attributable to the recessions in China and Europe. US economic growth is slowing from Q3’s rapid pace. Much of the weakness is structural in China but cyclical in the US and Europe. The latter two are likely to grow in 2024, but China will probably remain weak. This implies that commodities and emerging markets

Ed Yardeni

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