(Bloomberg) -- Elections are shining a spotlight on struggling emerging markets, with the prospect of fresh leadership unlocking opportunities in the asset...
-- Elections are shining a spotlight on struggling emerging markets, with the prospect of fresh leadership unlocking opportunities in the asset class.Argentines are lining up at the polls Sunday to pick their next president, just a week after voters in Ecuador and Poland backed new, pro-business leaders. Egypt, India and Mexico are all gearing up for their own elections in the coming months.
Already, investors have seen gains in the aftermath of elections this year. A victory in Ecuador by Daniel Noboa, a 35-year-old business leader from a wealthy banana-exporting family, helped the nation’s bonds due in 2035 to gain by the most in the region last week. Egypt’s December election will also see an economic plight take center stage. The nation’s sovereign bonds are trading in distressed territory as the clock ticks to unlock more financing from the International Monetary Fund. Egyptian President Abdel-Fattah El-Sisi has confirmed he’ll seek another term.
Global X’s Dorson said he’ll also watch Mexico’s presidential vote next June, where both leading candidates appear more pragmatic and centered than the current administration. Either one could help reduce political risk and bring in capital to fund the country’s nearshoring development, he said. In China, declines in industrial profits probably narrowed — providing more evidence that manufacturing is starting to turn around, according to Bloomberg Economics.
The House Republican conference voted 112-86 to ditch Jim Jordan as the party's speaker nominee after Jordan lost his third vote on the House floor.Brendan McDermid/Reuters The judge overseeing Donald Trump’s bank fraud trial threatened to throw the former president in jail—and hit him with a fine—for “blatantly” violating a gag order by refusing to delete a website post attacking court staff.“This court is way beyond the warning stage,” Justice Arthur F. Engoron fumed on Friday.
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