| Ticker | Mentions | Stance | Conv | Entry | P&L YTD | Theme | Thesis (click to expand) | Mentioned | Src |
|---|---|---|---|---|---|---|---|---|---|
| EEM | ×1 | LONG | HIGH | $62.82 | Macro | EM has built resilience through credible policy responses to recent shocks, and the year as a whole should be good for EM assets assuming a trajectory of de-escalation in the Middle East conflict, with external imbalances contained and mechanisms to deal with energy price shocks. | Apr 21 | YOUTUBE | |
| ILF | ×1 | LONG | HIGH | $37.74 | Macro | Latin America is a key winner, reinforced by the Iran conflict, because the region is physically removed from the Middle East, has many large commodity exporters, and benefits from political realignment with the US. Specific positive catalysts include Argentina's structural reforms and FX purchases, and Venezuela's re-engagement with the IMF. | Apr 21 | YOUTUBE | |
| EMB | ×1 | LONG | MED | $96.15 | Macro | Within Emerging Markets, energy exporters should outperform energy importers in an $80 oil price environment, which is a sweet spot for EM sovereign dollar bonds. Differentiation will pick up, and policy space varies significantly among importers. | Apr 21 | YOUTUBE |