Trading Fixed Income and FX in Emerging Markets: A Practitioner's Guide (Wiley Finance) 1st Edition

I worked as an EM strategist at an asset management firm for 4 years before I read this book, but I wished I would have had it on day 1. It does an excellent job outlining a framework for how to think about what drives EM asset classes (global factors/macroeconomic cycle, China, Country specific events like elections and IMF programs, etc). What is really unique about the book is how it takes on the nuance of how the different EM sub asset classes respond differently to various stimuli rather than thinking about “EM investing” as one monolithic thing, which has really helped my understanding of how to think about EM cross-asset relative value investing. Finally - there are tons of books out there on geopolitics and political economy as it relates to EM - but nothing directly useful from an actual investing perspective. This book fills that gap finally!

Dirk Willer - a well-followed & respected authority on Emerging Markets - along with Ram Bala Chandran & Kenneth Lam - has created an authoritative text & an advanced primer on navigating emerging markets profitably.This book is a must-read for anyone looking to generate alpha from the EM products - FX & Fixed Income.The authors have done a lot of heavy lifting by testing various hypotheses for generating alpha- thereby debunking a few commonly (& mistakenly) held beliefs by the trading community and sometimes uncovering a few gems hidden in plain sight.The ideas in the book are well-presented and each idea is supported with back-testing.The book rewards it’s readers with insights into what works & what doesn’t.I highly recommend this book to anyone looking to understand the Emerging Markets.FIVE STARS!!

I've been in the economic/financial research industry for twenty years, working in the EM environment, and this is the first time I found a book that tackles exactly the kind of key features and challenges we face in the EM trading floors. All key markets are covered in this book (e.g. FI, FX, Credit, etc) and contrasted with G10 references. Among the most appealing features of this book are its abundant plots, tables and practical examples. Well written, straight to the point, no time wasted. Lastly but probably equally relevant, this is a forward looking material, not only based on past and current market features and trends but on emerging or growing phenomena such as China, Big data and machine learning.

The book is the best practical summary I have read of the evolution of all consequential EM asset class developments that professionals from various metiers can benefit from and enjoy reading to enhance or refresh their knowledge and intuition about how tradable EM works. If you are an economics or finance student, an academic interested in passing on applicable EM knowledge, analyst, strategist, trader, investment manager or policy maker - you would find this book very useful and insightful! Highly, highly recommend!

This is a great book for anyone interested in learning to trade EM as well as more experienced market professionals. The authors do a great job of distilling the key drivers for EM markets from a macro perspective, but also provide a great framework for relative value opportunities. These guys are the best in the business for EM!

The book is a must-read for anyone who needs to understand and forecast emerging markets. It’s very objective, addresses the relevant questions and is useful both for the beginners as for the more experienced analysts/traders. Its assertions are carefully backed by evidence. The book can also save you a lot of time by telling which variables are worth following and which are not.

The book provides the essential factors to watch when you are investing in EM bonds and FX.

The authors provided a constructive perspective on the on-going nuances of the markets and what to keep in mind. It's well balanced with data and case examples. Patrick