Does the Fed play dice with the financial system?

A sculpture depicting an ancient animal

God does not play dice with the universe, according to Einstein, but, if he did, the outcome would look something like the chart below – only with somewhere between a vigintillion and acentillion of different particles to rearrange instead of two, six-sided die. Chart 1: Towards entropy Source: Entropy (gsu.edu) The double-die example (as opposed […]

Our outlook for India: The view from the GEMs desk

The excitement about India has resulted in rich valuations. How are you thinking about the valuation of Indian markets and how are you positioned? On valuations, with any metric we look at, the Indian market does screen to be expensive – but we have to think about why investors pay a premium for India, and […]

Surprise election result rattles Indian stocks:

market snapshot

PM calls snap UK election:

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A new hope

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UK outlook brightens as rate cuts loom

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Hang Seng soars as China sentiment shifts

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Emerging market debt: the strong recovery continues

EMD report Q1 2024

Paradigm shift

market snapshot

Volatility persists amid global uncertainties

market snapshot