EMs are entering 2026 from a position of renewed strength. A weakening U.S. dollar, improving fundamentals, and broadening country and sector leadership have created a favorable backdrop for investors—and we believe
So far in 2025, markets have had plenty to absorb: the Trump administration’s tariffs, Germany’s latest investment commitments, the implications of the DeepSeek moment, and escalating military conflicts (now including one on the India-Pakistan border).
