Emerging Insights

The emerging-markets rally isn't just about cycling into cheap valuations. Structural shortages in labor and commodities could turn the developing world into the next long-duration growth story. Emerging market stocks have posted their strongest run in over a decade. The iShares MSCI Emerging Markets ETF is up 28.7%  this year after nine straight months of gains . Goldman Sachs expects the rally to continue through 2025, driven by falling inflation, a weaker dollar, and impro

Abstract Investors have historically rewarded divided governments for the policy stability they are perceived to create. Yet this conventional wisdom is becoming increasingly untenable in an era of deepening political fragmentation. The nature of gridlock has evolved from a source of healthy checks and balances to a driver of dysfunctional paralysis, creating significant, and often mispriced, medium- to long-term risks. Through case studies of fiscal decay, erosion of state c