The Emerging Markets Podcast by Tellimer From Tariffs to Tight Spreads: 2025 in Review for Emerging Markets
Maria Jose Alvarez, Client Success Manager at Tellimer, joins CEO Duncan Wales for a special year-in-review episode, revisiting what the team got right — and less right — in their 2025 emerging markets outlook. They unpack the impact of Trump’s second term and “Liberation Day” tariffs, the weaker US dollar and its outsized boost to EM local debt, hard currency bonds and equities, and why frontier markets like Vietnam and Indonesia quietly benefited from trade re-routing. The conversation also covers a more complicated-than-expected geopolitical backdrop, the absence of new sovereign defaults, the role of elections in shaping policy credibility, and why local rates, idiosyncratic restructurings and selected high-yield stories remain central to the EM opportunity set going into 2026.
The Emerging Markets Podcast by Tellimer – Emerging Markets, Connected. Check out the full Tellimer offering here. To get access to our top picks for 2026, please contact sales@tellimer.com.
The Emerging Markets Podcast dives into a range of topics in the emerging and frontier market world including investment themes, debt restructuring, elections, and geopolitical tensions.
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