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Bloomberg Línea · Quoted expert ESOriginal title: Bonos recién emitidos por Bolivia ya reflejan señales de cautela y el mercado revalora el riesgo: IIF

Newly issued Bolivian bonds already show signs of caution and the market reprices risk: IIF

Fortun interprets weakness in newly issued Bolivian bonds as a repricing of economic and policy risks.

Bloomberg Línea Brasil · Mention PT-BROriginal title: Treasuries de 30 anos acima de 5% ampliam pressão sobre América Latina e emergentes

30 year Treasuries above 5% add pressure on Latin America and emerging markets

Bloomberg Línea Brasil published this Portuguese article on 2026-05-21. It mentions Jonathan Fortun in an IIF economics context. Read the original source for the complete reporting.

IIF Capital Flows Report: The Long Tail of the Shock

Marcello Estevão · Jonathan Fortun / Institute of International Finance

The geopolitical shock reaches beyond oil prices into supply-chain reliability, input costs and financing. Energy-price stabilization would not necessarily remove premiums on gas, fertilizer, shipping and intermediate goods. US consumption, AI investment and energy capacity provide more protection than Europe has, without eliminating exposure. For emerging markets, capital allocation increasingly favors stronger reserves, credible policies and lower energy-import or refinancing risks.

Stuck in the Loop, Part III: The Bond, the Street, and the Ghosts

Fortun examines Bolivia's bond-market return before an IMF agreement, arguing that fuel costs, inflation, blockades and entrenched political networks complicate the sequence of stabilization.

IIF Global Macro Views: The Star Is Rising

Marcello Estevão · Jonathan Fortun / Institute of International Finance

Successful AI investment could raise the equilibrium real interest rate by increasing desired investment relative to saving. Demand for energy, computing infrastructure, equipment and skilled workers is already rising, while lasting unit-labor-cost reductions are less evident. A lower equilibrium rate would require a weaker-growth scenario, potentially involving sustained labor-market damage. The authors therefore caution against assuming AI will restore the very low real rates of the 2010s.

Bloomberg Línea · Quoted expert ESOriginal title: Aranceles de Trump se tambalean, pero siguen vivos: ¿qué implica para Latinoamérica el pulso judicial?

Aranceles de Trump se tambalean, pero siguen vivos: ¿qué implica para Latinoamérica el pulso judicial?

Fortun discusses the evolving US tariff litigation and uncertainty over market access for Latin American economies.

IIF Capital Flows Tracker: May 2026

Jonathan Fortun / Institute of International Finance

The May tracker records a partial recovery from March's emerging-market selloff, with $58.3 billion in portfolio inflows during April. Debt attracted $51.9 billion, mainly outside China, while equities returned to positive flows. Renewed issuance indicated improving market access before the underlying economic shock had dissipated. The note leaves open whether this was lasting normalization or an initial respite constrained by energy costs, inflation and selective financing.

IIF Global Macro Views: The Narrow but Resilient Path of U.S. Growth

Marcello Estevão · Jonathan Fortun / Institute of International Finance

US growth remains resilient but increasingly reliant on a narrow set of supports. Consumption faces weaker savings and real-income buffers, while AI investment is large enough to affect output, corporate finances and electricity demand. Imported equipment reduces the domestic benefit of that spending. Higher oil prices squeeze households and AI infrastructure, while persistent services inflation limits the Federal Reserve's room to support growth.