Phoenix Kalen, Global Head of Emerging Markets Research at Societe Generale Corporate and Investment Banking, joins Tellimer Founder & CEO, Duncan Wales, to discuss the investment implications of the US and Israeli attacks on Iran and what the conflict means for emerging markets across the short and long term. Drawing on Phoenix's deep expertise in sovereign debt, credit, and EM strategy built across institutions including RBS and JP Morgan, the conversation examines which economies stand to win and lose from elevated oil prices and supply disruption, why the market reaction has been notably more contained than the Russia-Ukraine shock of 2022, and what that tells us about the structural maturation of emerging markets as an asset class. They also explore the ongoing shift away from dollar-denominated assets, whether EM carry trades can recover, the growing case for local currency bond markets on their own merits, and why the old framework of treating emerging markets purely as a spread product over US Treasuries is increasingly difficult to defend.
The Emerging Markets Podcast by Tellimer – Emerging Markets, Connected. Check out the full Tellimer offering here.
The Emerging Markets Podcast dives into a range of topics in the emerging and frontier market world including investment themes, debt restructuring, elections, and geopolitical tensions.
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