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Goldman Sachs on Vaccine Timelines For EM

EMERGING MARKETS

Goldman Sachs Bullish Mexico Citing Vaccine Rollout Convergence To Peers

  • Suggest being long Mexican equities and the currency as vaccine rollout projections suggest a catch up with EM peers in the second half of 2021.
  • Vaccine pipelines should be driving focus of EM performance divergence.
  • Also like South Africa, Poland and Russian assets, citing the same reasons.
  • Brazil is the anomaly, given weaker vaccine rollout projections, however, maintaining a supportive external backdrop.

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