Simon Williams 1.4 1 idea

Williams states regarding Egypt: "Hard to find a better story... Inflation is coming down... Big improvement in overall balance of payments." He notes foreign investors are returning due to the FX rebalancing. With the US Dollar weakening (mentioned as a positive for EM) and structural reforms taking hold, Egypt represents a deep value recovery play within the broader EM basket. LONG Egyptian assets (likely via bonds or broad EM ETFs with exposure). Failure to secure the next tranche of IMF funding or geopolitical spillover from Gaza/Israel.