Fixed Income and Currency Strategist

Gautam Jain, PhD, CFA

Gautam Jain has over 25 years of experience covering global emerging fixed income and currency markets, both as a strategist and a portfolio manager. He has worked in buy-side and sell-side firms, including The Rohatyn Group (TRG Management), Barclays Capital, and Millennium Partners. He has helped manage emerging markets local-currency and hard-currency debt funds. The assets that he covers include currencies, interest rates, sovereign credits, and related derivatives. He specializes in portfolio construction, smart-beta index creation, and asset allocation. Mr. Jain holds a Ph.D. in Operations Research from Columbia University and is a CFA charter holder.

Rates 10y Dashboard: Poland’s Rates Need to Rise Further to Account for Inflation Risk

Rates 10y Dashboard: Which EM Countries Are Vulnerable to a Further Rise in US Rates?

Rates 10y Dashboard: EM Rates Are Underperforming the US

Rates 10y Dashboard: EM Long-End Rates Continue to Maintain Risk Premium Cushion

Alpha Bites: Monthly Trade Ideas Recap (May 2021)

Rates 10y Dashboard: Greater Dispersion Within EM Means More Trading Opportunities

Rates 10y Dashboard: Which Countries Underperformed as US Rates Rallied?

FX & Rates

<p>In this note, we discuss the reasons behind the sharp rise in EM rates volatility, which is typically lower than that of US rates but not this time. An upshot of the rise in volatility is the availability of more trading opportunities.</p><p>Separately, the attached file is a snapshot of the EM 10y rates market in which we seek to identify the leaders and laggards among countries by comparing the performance of each to its history as well as to other countries based on their respective betas to the broad market.</p>

In this note, we discuss the reasons behind the sharp rise in EM rates volatility, which is typically lower than that of US rates but not this time. An upshot of the rise in volatility is the availability of more trading opportunities.Separately, the attached file is a snapshot of the EM 10y rates market in which we seek to identify the leaders and laggards among countries by comparing the performance of each to its history as well as to other countries based on their respective betas to the broad market.

Rates 10y Dashboard: EM Rates Volatility as High as the US in a Rare Occurrence

US Treasury (10 Yr Generic)

Rates 10y Dashboard: EM Rates Volatility as High as the US in a Rare Occurrence