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Pension Tension
Uruguay is heading towards a pivotal vote on October 27th, but it’s not just about electing the next president. This time, voters will also weigh in on a plebiscite that could reshape the nation’s pension system—backtracking on key reforms passed in 2023.
Antero Peak Group Reads
In the spirit of continuous improvement, the Antero Peak Group actively reads to further develop perspectives on financial markets and investing, leadership and life experiences. Please see a list of books that have challenged our thinking over the last several years.
The Battle of the NDF Trading Venues
Non-Deliverable Forwards (NDFs) have become essential tools in emerging market investing, allowing access to emerging and frontier currencies that do not otherwise have an FX market. NDFs, unlike standard currency forwards, do not involve the physical exchange of currencies. Instead, counterparties settle the difference between the contracted NDF price and the current spot price at the maturity of the contract. Market adoption of electronic trading and central clearing in NDFs has not kept pace with other emerging market derivatives but is quickly catching up and rapidly becoming more complicated.
The Curious Case of The Bahamas Index Exclusion
The line between emerging and developed markets can often be blurred. While we advocate for a broad investment approach that encompasses a wide range of opportunities, index providers often draw a clearer distinction. This stricter approach can result in the exclusion of certain countries from the investable universe. One example is The Bahamas.
Growth Team Weekly Investment Insights
This week's post highlights Chinese stimulus measures and equity returns, US economic data releases (PCE and GDP), how rare it is to find companies with consistent growth profiles, and the importance of digital innovation in cars.
Growth Team Weekly Investment Insights
In this week's post, we highlight the August inflation data, performance of technology and consumer staples equities, expected earnings growth of small caps, Apple product announcements, and a rising cloud computing competitor.
Goodbye "T-Bill and Chill," Hello Dividend Stocks
The “higher for longer” interest rate environment is nearing its end. The Federal Reserve is widely expected this week to join other central banks, including the European Central Bank and the Bank of England, in cutting rates after generational high US inflation has receded back toward the Fed’s 2% target.
Growth Team Weekly Investment Insights
In this week's post, we highlight PMI readings, semiconductor weakness, updates on the labor market and oil industry, and walk through a popular approach to analyzing software companies.
Jamaican Me Hurricane Ready, Others Should Follow
Emerging market countries must deal with a host of development issues, from social unrest to inadequate institutions and corruption. A select few face an additional natural disaster risk that can derail their development: hurricanes.
Growth Team Weekly Investment Insights
In this week’s post, we highlight Jay Powell’s recent comments, US rate cut expectations and the falling US dollar, health care’s bright outlook, NVIDIA’s earnings results, and record free cash flow generation by defense companies.