Emerging Markets Strength Amid China Anti-Trust Concerns

Clement K. Miller, CFA |
Wilmington Wire
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March 26, 2021—We are currently overweight emerging markets equities—including Chinese equities. Four pillars support our position. First is our view that the vaccines have prompted a cyclical rally that is, in general, constructive for global equities. Second, we believe emerging markets will see faster economic growth than developed markets. Third, the Asia ex-Japan region, including China, has so far successfully managed the COVID-19 crisis, in our opinion.

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Emerging Markets Dollar Bonds—When to Invest?

Clement K. Miller, CFA |
Wilmington Wire
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++The World map texture derived from public domain NASA: http://visibleearth.nasa.gov.
Traced in Illustrator. File created on November 29 2018++

March 1, 2021—Some of our advisors and clients have asked whether the Investment Committee (IC) might make a tactical allocation to emerging markets U.S. dollar (EM USD) bonds. No doubt these questions are motivated by the fact that EM USD bonds offer higher yields than U.S. investment-grade bonds and involve return streams that are only partly correlated to those of other asset classes.

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International stocks: Technology-related industries have generated high returns since vaccine repricing

Clement K. Miller, CFA |
Wilmington Wire
MicroStockHub

January 22, 2021—On November 9, 16, and 23, three vaccine manufacturers announced surprisingly positive results in Phase-3 trials of their COVID-19 vaccines. Global equity markets quickly repriced “economic reopening” stocks on the back of this news.

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