Rising U.S. Yields VS EM Risk

Download Jon Harrison's EM Watch, "Rising U.S. Yields VS EM Risk"

  • Rising US Treasury yields have given EM investors cause for concern.
  • In the absence of global inflationary pressures, however, the dollar, rather than nominal yields, is the likely most important external driver of EM risk sentiment, and many EM currencies remain undervalued vs the dollar.
Jon Harrison-1

Jon Harrison
Managing Director, EM Macro Strategy

Jon joined TS Lombard in May 2014 as a senior Macro Strategist in the EM Macro Strategy team to deepen coverage in the FX, fixed income and credit markets. Jon brings a wealth of strategy experience backed by quantitative skills. His mandate at TS Lombard includes driving the formalisation of the process of translating views on the political economy into market strategy and investment conclusions.

At TS Lombard, Jon has produced strategy publications on top down themes across all asset classes and also on specific market views. Jon is responsible for our weekly EM Watch publication, in which he writes on global themes relevant to emerging markets and produces market strategy analysis supporting our asset allocation and high-conviction views; as well as editing contributions from our in-country specialists analysing the implications of key fundamental developments. He also contributes to our flagship EM Strategy Monthly publication and to our fundamental guide to emerging markets: The GRID.

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