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Zonebourse published this French article on 2026-06-10. It mentions Jonathan Fortun in an IIF economics context. Read the original source for the complete reporting.
View detailsFortun explains why April's rebound in emerging-market inflows gave way to renewed equity selling in May, despite more resilient demand for debt.
View detailsThe June tracker records $26.6 billion in net emerging-market portfolio outflows during May, reversing April's inflows. Equity withdrawals of $37 billion outweighed $10.4 billion in debt investment, with selling in Korea and India driving the Asian reversal. Chinese equities still attracted funds, but Chinese debt lost investment. The note links the June market selloff, stronger US employment and a more hawkish Bank of Japan to tighter prospective liquidity conditions.
Read the workFortun challenges outside interpretations of Bolivia centered on commodities and protest, arguing that inherited political institutions and contested state authority shape the reform crisis.
View detailsHigher long-term rates are prompting a gradual adjustment in private credit valuations, liquidity and refinancing rather than a broad wave of defaults. AI investment and disruption create widening differences among borrowers and sectors. Negotiation and delayed valuation changes can spread stress over time, making underlying risks harder to observe when refinancing remains expensive.
Read the workRepeated US current-account deficits have accumulated a stock of financial claims that helps explain today's global imbalances. Global demand for dollar assets keeps the United States at the center of financing, but increasingly private investors respond to yields, hedging costs and policy credibility. The authors argue that tariffs cannot resolve an imbalance rooted in saving, fiscal policy and demand for US assets, while maintaining that financing system may become more expensive.
Read the workMarcello Estevão and Jonathan Fortun join Clay Lowery to discuss the IIF's midyear Capital Flows Report. They examine US economic outperformance, uneven emerging-market signals and how geopolitical shocks interact with existing weaknesses. The episode also addresses supply-chain disruption beyond energy and the policy risks accumulating for the second half of 2026.
View detailsBloomberg Línea reports that Bolivia's country risk spread has jumped past 605 basis points amid roadblocks and social conflict. Jonathan Fortun of the IIF said Bolivia's spreads once exceeded 2,300 basis points before compressing to about 325, and that the recent rebound shows the improvement is conditional, fragile and reversible. He argued the next battle will probably be the design and political approval of the IMF program, and that Bolivia now must prove it can implement reforms.
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