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Newsweek Japan (Reuters) · Quoted expert JAOriginal title: 中国株、海外勢が8月に149億ドル売り越し　15年以降で最大＝ＩＩＦ

中国株、海外勢が8月に149億ドル売り越し　15年以降で最大＝ＩＩＦ

Fortun relates record Chinese equity outflows to weak sentiment about China's economic challenges and skepticism toward measures to support growth.

Zonebourse · Mention FR-FROriginal title: Les actions chinoises sont à l'origine de l'exode des investisseurs étrangers des marchés émergents en août - IIF

Les actions chinoises sont à l'origine de l'exode des investisseurs étrangers des marchés émergents en août - IIF

Chinese equities drove emerging market portfolio withdrawals in August 2023 as disappointment over growth and policy support unsettled investors. Jonathan Fortun links the outflows to doubts about China’s recovery, while explaining why lower currency volatility continued to attract foreign investors to local debt markets outside China.

Reuters / Investing.com · Quoted expert

Chinese stocks lead foreign exodus from emerging markets in August -IIF

Fortun examines foreign withdrawals from Chinese stocks and the resulting weakness in overall emerging-market portfolio flows.

WTVB (Reuters) · Quoted expert

China snaps 2023 debt outflow streak as emerging markets shine in July -IIF

Fortun explains how lower currency volatility increased the appeal of emerging-market debt as Chinese bonds recorded their first monthly foreign inflow of 2023. He also identifies elections and regional risks that could interrupt the improvement.

Global Macro Views: The End of the US Inflation Shock

Robin Brooks · Jonathan Fortun / Institute of International Finance

US inflation was looking more like a fading supply shock than a persistent excess demand problem in this August 2023 assessment. Jonathan Fortun and Robin Brooks revisit their view that price pressures had narrowed since mid 2022 and interpret the early 2023 pickup as annual price resets. They argue that more modest underlying inflation could allow faster and larger Federal Reserve rate cuts than markets then anticipated.

Global Macro Views: The Final Word on Devaluations

Robin Brooks · Jonathan Fortun / Institute of International Finance

Do currency devaluations actually lift exports? Robin Brooks and Jonathan Fortun examine large, persistent depreciations since 1990 across advanced and emerging economies. Their July 2023 analysis finds an early increase in export volumes and a shift from external deficits toward surpluses, challenging the view that dollar invoicing prevents a meaningful trade response.

Newsweek Japan (Reuters) · Quoted expert JAOriginal title: 海外勢の新興国証券投資、6月は221億ドルの買い越し＝ＩＩＦ

海外勢の新興国証券投資、6月は221億ドルの買い越し＝ＩＩＦ

Fortun sees improving emerging-market credit prospects as inflation eases, while highlighting elections, regional conditions and external shocks that could weaken momentum.

Global Macro Views: Do Devaluations Boost Exports?

Robin Brooks · Jonathan Fortun / Institute of International Finance

Export growth strengthens after major devaluations in the historical sample examined by Robin Brooks and Jonathan Fortun. Their July 2023 analysis follows 27 episodes of real exchange rate declines exceeding 20% since 1990 across emerging and G10 economies. Larger depreciations are associated with stronger export gains, challenging claims that dollar invoicing prevents such benefits.