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Investment Weekly

Emerging markets’ stellar year so far
10 October 2025

    Chart of the week – Emerging markets’ stellar year so far

    Chart of the week – Emerging markets’ stellar year so far

    2025 has offered emerging market believers plenty of bragging rights. After surviving largely unscathed from the most aggressive Fed tightening cycles in decades, EM asset classes have delivered a stellar performance this year helped by the big drop in the US dollar and continued policy easing in many individual EMs. But is the rally just about the favourable external environment, or could something more fundamental be driving renewed investor interest in EMs?

    More from this week:

    Market Spotlight

    • Golden Week

    Lens on…

    • Is no news good news?
    • Japan’s record rally
    • Powering the future

    Read the full commentary PDF, 3.30MB