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Yahoo
an hour ago
- Business
- Yahoo
Hybrid branch-bank models & digital inclusion in retail banking
Retail banking has undergone profound shifts over the past decade. Digital channels have undeniably transformed service delivery and broadened financial inclusion. Yet, despite the rise of mobile banking apps and AI-driven tools, the physical branch continues to play a vital role - especially in fostering trust, supporting the financially vulnerable, and anchoring community relationships. The hybrid branch-bank model is not simply a compromise between old and new. It is a strategic integration - blending the familiarity and assurance of in-person banking with the convenience and efficiency of digital services. This evolution is not driven by nostalgia but by customer demand across demographics and regions. Hybrid models reflect how real people live, bank, and engage. In emerging markets, branches remain the gateway to formal banking. They provide critical services where digital penetration remains low or inconsistent. And even in digitally mature countries, certain customer segments - the elderly, microentrepreneurs, and those with accessibility needs - prefer or rely on face-to-face interactions. Branches are not obsolete; they are being redefined. A modern hybrid branch is no longer a transactional venue. Instead, it becomes a consultative hub - a space where complex financial decisions are discussed, where small businesses are nurtured, and where financial literacy is advanced. The future branch will be smaller, smarter, and more purposeful. It may have fewer counters, but it will have more tools - biometric authentication points, digital onboarding stations, and live remote advisory services. In the hybrid model, branch staff are empowered to play broader roles. The traditional teller role is evolving into that of a universal banker - someone capable of guiding customers across physical and digital touchpoints. Upskilling, soft skills, and data literacy are becoming as important as operational knowledge. This human-centric approach adds warmth to technology. Importantly, digital inclusion must not be an afterthought. In designing hybrid models, banks must ensure that technology is not a barrier. Interfaces must be intuitive. Language support must be thoughtful. Accessibility features must be embedded. And above all, empathy must underpin every digital journey. This is how we ensure inclusion is meaningful and sustainable. Crisis periods have reinforced the value of having dual infrastructure. When digital platforms faced outages or cybersecurity threats, branches served as fallback anchors. Conversely, during lockdowns, mobile and online channels ensured continuity. Together, they build systemic resilience - something every modern bank needs as part of its risk strategy. Another advantage of the hybrid approach is the capacity to drive personalised experiences. Customer insights gathered digitally can be deepened through human interaction. A digital trigger - say, a mortgage query - can lead to an in-branch consultation. This cross-channel intelligence, when handled responsibly, can uplift customer satisfaction and reduce churn. The regulatory environment is also evolving. Hybrid models offer a proactive response - ensuring no customer is left behind, while also enabling banks to comply with evolving global mandates around financial access and consumer duty. Banks that embed digital within physical branches can serve communities more consistently and transparently. Additionally, there is a growing opportunity to repurpose branches as centres of community engagement. From hosting SME workshops to facilitating digital literacy drives, branches can serve a broader social role. These initiatives not only enhance financial inclusion but also reinforce a bank's standing as a trusted local partner. Data analytics also plays a pivotal role. By leveraging in-branch behavioural insights and digital footprints, banks can personalise services, improve compliance, and reduce operating costs. But this must be done with care. Customers expect transparency - they want to know how their data is used and why. When done ethically, data can be a force for empowerment rather than exclusion. This shift to hybridisation is not merely a tactical adjustment but a reflection of long-term structural change in customer expectations. Customers today want contextual banking - where the service, advice, or access is timely, relevant, and seamless across platforms. A hybrid branch delivers that continuity. One important factor often overlooked is emotional intelligence in banking. Human interactions at branches still serve an irreplaceable role in resolving distress, clarifying complexity, or simply reassuring clients during uncertain economic times. While algorithms can recommend, only people can empathise. From a regulatory perspective, hybrid branches align with growing expectations around inclusive access and responsible service models. As banks transition further into digital ecosystems, supervisory bodies are placing greater emphasis on fairness, reach, and customer understanding. Maintaining localised, digitally supported branches is one of the most effective ways to ensure these priorities are met in practice. Globally, we observe that national strategies around financial wellbeing - such as the UK's Consumer Duty or India's Jan Dhan mission - align well with hybrid frameworks. Both emphasise simplicity, reach, and financial literacy. A branch with integrated digital advisory services can execute this vision at scale. Hybrid models are also better suited to engaging younger customers, who may begin their journey digitally but require guidance on milestone decisions - buying a home, saving for education, or starting a small enterprise. These are moments where in-person conversations add trust to technology. Cost efficiency is often cited as a barrier to retaining physical branches. However, data shows that branches reconfigured for multi-functionality, co-location with community services, and intelligent workforce deployment can achieve profitable impact. It's not about square footage; it's about strategic utility. Leadership teams across global retail banks are increasingly looking at hybrid not as a transitional model but as a permanent backbone. It enables a distributed presence, resilience in operations, and a human-digital blend that reflects modern service economies. Banks that act now will shape the next decade of responsible banking. To be clear, this is not a nostalgic defence of the branch. It is a forward-looking argument grounded in customer data, regulatory trends, and operational resilience. Digital-only may scale, but hybrid delivers sustainability - with impact rooted in real people, real lives, and real outcomes. In summary, the hybrid branch-bank model is a dynamic, inclusive, and resilient response to the evolving landscape of financial services. It retains the best of traditional banking - personal trust, familiarity, and presence - while layering on the tools of tomorrow. As financial leaders, the onus is on us to ensure that our strategies reflect not just digital ambition but human purpose. Dr. Gulzar Singh is Founder & CEO of Phoenix Thoughtworks "Hybrid branch-bank models & digital inclusion in retail banking" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20 hours ago
- Business
- Yahoo
Mobile Gaming Market Trends Analysis Report with Growth Forecasts, 2025-2030: In-App Purchases Fuel Mobile Gaming Economy with Personalized Offerings
The mobile gaming market is projected to skyrocket from USD 139.38 billion in 2024 to USD 256.19 billion by 2030, driven by growing smartphone use and the free-to-play model. Key trends include increased mobile esports, especially in Latin America, and strategic movements by industry giants like Tencent. Mobile Gaming Market Dublin, June 27, 2025 (GLOBE NEWSWIRE) -- The "Mobile Gaming Market Size, Share & Trends Analysis Report by Platform, Device, Game Genre, Distribution Channel, Monetization Model, Age Group, and Region with Growth Forecasts, 2025-2030" report has been added to Mobile Gaming Market was valued at USD 139.38 billion in 2024, and is projected to reach USD 256.19 billion by 2030, rising at a CAGR of 10.20%. The rapid global increase in smartphone usage is the cornerstone of the mobile gaming industry exponential growth. Affordable smartphones, coupled with enhanced processing power, are democratizing gaming and making it accessible to a wider audience than ever before. In many emerging markets, where access to traditional gaming consoles and PCs may be limited, mobile devices often serve as the primary or sole gaming platform. This widespread accessibility has led to a surge in game downloads, higher user engagement, and more frequent in-game purchases, fostering a robust monetization ecosystem. As smartphone adoption continues to expand, especially in developing regions, the user base for mobile gaming is poised to grow even further, ensuring the industry remains a dominant force in the global entertainment free-to-play model has revolutionized mobile gaming by removing the upfront cost barrier, significantly broadening its audience. By offering full access without initial payment, developers attract massive install rates and build large user communities. Monetization is skillfully integrated through in-app purchases, ads, and gated premium features that enhance user experience without compromising core gameplay. Successful titles like Clash Royale and Genshin Impact exemplify how compelling content and monetization can coexist. The continued dominance of F2P is reshaping development priorities, placing greater emphasis on long-term user retention, engagement loops, and recurring revenue purchases have become the cornerstone of mobile gaming monetization, enabling developers to generate revenue while keeping the core experience free. Players readily spend on cosmetic items, exclusive skins, character boosts, and in-game currency, often driven by personalization and status within the game. Developers strategically implement psychological triggers like scarcity, urgency, and social proof to boost IAP conversion rates. These microtransactions offer a non-intrusive way to support ongoing game development and content updates. As a result, IAPs have turned mobile games into scalable digital economies with dynamic pricing esports are rapidly maturing into a global competitive ecosystem, drawing millions of players and spectators. Games such as PUBG Mobile, Free Fire, and Mobile Legends host high-profile tournaments with multi-million-dollar prize pools and sponsorship deals. The accessibility of smartphones eliminates traditional hardware barriers, allowing broader participation from emerging markets and younger demographics. Spectator platforms like YouTube, Twitch, and TikTok amplify visibility, creating new entertainment formats and monetization channels. This explosive growth is redefining mobile gaming from a casual pastime to a professional, spectator-driven America is experiencing rapid growth in the mobile gaming industry, driven by increasing internet penetration and the affordability of smartphones. Countries like Brazil and Mexico are leading the charge, with a growing middle class and increasing disposable incomes. Mobile games that cater to local tastes, like soccer-themed games or culturally relevant narratives, are attracting large audiences. The region is also witnessing the rise of mobile esports and live streaming platforms that are fueling community engagement. With more players coming online, Latin America is set to become a key market for mobile gaming in the coming is a prominent player in the mobile gaming industry, with ownership stakes in some of the biggest game studios, including Riot Games and Epic Games. Tencent's mobile gaming titles, such as Honor of Kings and PUBG Mobile, are among the most successful globally. The company's ability to dominate both domestic and international markets through strategic partnerships and investments is a key driver of its success. Tencent also invests heavily in cloud gaming and esports, further cementing its position in the global market. The company's diversified approach continues to influence mobile gaming trends Mobile Gaming Market Report SegmentationThis report forecasts revenue growth at the regional and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2018 to 2030. For this study, the analyst has segmented the global mobile gaming market report based on platform, device, game genre, distribution channel, monetization model, age group, and region. This report addresses: Market intelligence to enable effective decision-making Market estimates and forecasts from 2018 to 2030 Growth opportunities and trend analyses Segment and regional revenue forecasts for market assessment Competition strategy and market share analysis Product innovation listings for you to stay ahead of the curve Companies Featured The major companies featured in this Mobile Gaming market report include: Tencent Holdings Limited Apple Inc. Google LLC NetEase Inc. Activision Blizzard Inc. Electronic Arts Inc. Nintendo Co, Ltd. Take-Two Interactive Software Inc. (includes Zynga Inc.) Roblox Corporation Supercell Oy Playrix Holding Ltd Niantic Inc. Key Attributes: Report Attribute Details No. of Pages 140 Forecast Period 2024 - 2030 Estimated Market Value (USD) in 2024 $139.38 Billion Forecasted Market Value (USD) by 2030 $256.19 Billion Compound Annual Growth Rate 10.2% Regions Covered Global Key Topics Covered: Chapter 1. Methodology and ScopeChapter 2. Executive Summary2.1. Market Outlook2.2. Segment Outlook2.3. Competitive InsightsChapter 3. Mobile Gaming Market Variables, Trends, & Scope3.1. Market Lineage Outlook3.2. Market Value Chain Analysis3.3. Market Dynamics3.4. Mobile Gaming Market Analysis Tools3.4.1. Industry Analysis - Porter's3.4.2. PESTEL Analysis3.5. Market Technology TrendsChapter 4. Mobile Gaming Market: Platform Estimates & Trend Analysis4.1. Segment Dashboard4.2. Mobile Gaming Market: Platform Movement Analysis, 2024 & 2030 (USD Billion)4.3. Android4.4. iOS4.5. Hybrid/Cross-Platform4.6. Progressive Web Apps (PWAs)Chapter 5. Mobile Gaming Market: Device Estimates & Trend Analysis5.1. Segment Dashboard5.2. Mobile Gaming Market: Device Movement Analysis, 2024 & 2030 (USD Billion)5.3. Smartphones5.4. TabletsChapter 6. Mobile Gaming Market: Game Genre Estimates & Trend Analysis6.1. Segment Dashboard6.2. Mobile Gaming Market: Game Genre Movement Analysis, 2024 & 2030 (USD Billion)6.3. Action & Adventure6.4. Puzzle6.5. Role-Playing (RPG)6.6. Strategy & Simulation6.7. Sports & Racing6.8. Others6.8.1. Others Market Revenue Estimates and Forecasts, 2018-2030 (USD Billion)Chapter 7. Mobile Gaming Market: Distribution Channel Estimates & Trend Analysis7.1. Segment Dashboard7.2. Mobile Gaming Market: Distribution Channel Movement Analysis, 2024 & 2030 (USD Billion)7.3. App Stores7.4. Cloud Gaming Platforms7.5. Web-Based (Instant Play)Chapter 8. Mobile Gaming Market: Monetization Model Estimates & Trend Analysis8.1. Segment Dashboard8.2. Mobile Gaming Market: Monetization Model Movement Analysis, 2024 & 2030 (USD Billion)8.3. Free-to-Play (F2P)8.4. In-App Purchases8.5. Premium (Paid Games)8.6. Play-to-Earn (P2E)8.7. Subscription-BasedChapter 9. Mobile Gaming Market: Age Group Estimates & Trend Analysis9.1. Segment Dashboard9.2. Mobile Gaming Market: Age Group Movement Analysis, 2024 & 2030 (USD Billion)9.3. Gen Z9.4. Millennials / Gen Y9.5. Gen X9.6. Baby BoomersChapter 10. Mobile Gaming Market: Regional Estimates & Trend Analysis10.1. Mobile Gaming Market Share, By Region, 2024 & 2030 (USD Billion)Chapter 11. Competitive Landscape11.1. Company Categorization11.2. Company Market Positioning11.3. Company Heat Map Analysis11.4. Company Profiles For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Mobile Gaming Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
- Business
- Yahoo
Mobile Gaming Market Trends Analysis Report with Growth Forecasts, 2025-2030: In-App Purchases Fuel Mobile Gaming Economy with Personalized Offerings
The mobile gaming market is projected to skyrocket from USD 139.38 billion in 2024 to USD 256.19 billion by 2030, driven by growing smartphone use and the free-to-play model. Key trends include increased mobile esports, especially in Latin America, and strategic movements by industry giants like Tencent. Mobile Gaming Market Dublin, June 27, 2025 (GLOBE NEWSWIRE) -- The "Mobile Gaming Market Size, Share & Trends Analysis Report by Platform, Device, Game Genre, Distribution Channel, Monetization Model, Age Group, and Region with Growth Forecasts, 2025-2030" report has been added to Mobile Gaming Market was valued at USD 139.38 billion in 2024, and is projected to reach USD 256.19 billion by 2030, rising at a CAGR of 10.20%. The rapid global increase in smartphone usage is the cornerstone of the mobile gaming industry exponential growth. Affordable smartphones, coupled with enhanced processing power, are democratizing gaming and making it accessible to a wider audience than ever before. In many emerging markets, where access to traditional gaming consoles and PCs may be limited, mobile devices often serve as the primary or sole gaming platform. This widespread accessibility has led to a surge in game downloads, higher user engagement, and more frequent in-game purchases, fostering a robust monetization ecosystem. As smartphone adoption continues to expand, especially in developing regions, the user base for mobile gaming is poised to grow even further, ensuring the industry remains a dominant force in the global entertainment free-to-play model has revolutionized mobile gaming by removing the upfront cost barrier, significantly broadening its audience. By offering full access without initial payment, developers attract massive install rates and build large user communities. Monetization is skillfully integrated through in-app purchases, ads, and gated premium features that enhance user experience without compromising core gameplay. Successful titles like Clash Royale and Genshin Impact exemplify how compelling content and monetization can coexist. The continued dominance of F2P is reshaping development priorities, placing greater emphasis on long-term user retention, engagement loops, and recurring revenue purchases have become the cornerstone of mobile gaming monetization, enabling developers to generate revenue while keeping the core experience free. Players readily spend on cosmetic items, exclusive skins, character boosts, and in-game currency, often driven by personalization and status within the game. Developers strategically implement psychological triggers like scarcity, urgency, and social proof to boost IAP conversion rates. These microtransactions offer a non-intrusive way to support ongoing game development and content updates. As a result, IAPs have turned mobile games into scalable digital economies with dynamic pricing esports are rapidly maturing into a global competitive ecosystem, drawing millions of players and spectators. Games such as PUBG Mobile, Free Fire, and Mobile Legends host high-profile tournaments with multi-million-dollar prize pools and sponsorship deals. The accessibility of smartphones eliminates traditional hardware barriers, allowing broader participation from emerging markets and younger demographics. Spectator platforms like YouTube, Twitch, and TikTok amplify visibility, creating new entertainment formats and monetization channels. This explosive growth is redefining mobile gaming from a casual pastime to a professional, spectator-driven America is experiencing rapid growth in the mobile gaming industry, driven by increasing internet penetration and the affordability of smartphones. Countries like Brazil and Mexico are leading the charge, with a growing middle class and increasing disposable incomes. Mobile games that cater to local tastes, like soccer-themed games or culturally relevant narratives, are attracting large audiences. The region is also witnessing the rise of mobile esports and live streaming platforms that are fueling community engagement. With more players coming online, Latin America is set to become a key market for mobile gaming in the coming is a prominent player in the mobile gaming industry, with ownership stakes in some of the biggest game studios, including Riot Games and Epic Games. Tencent's mobile gaming titles, such as Honor of Kings and PUBG Mobile, are among the most successful globally. The company's ability to dominate both domestic and international markets through strategic partnerships and investments is a key driver of its success. Tencent also invests heavily in cloud gaming and esports, further cementing its position in the global market. The company's diversified approach continues to influence mobile gaming trends Mobile Gaming Market Report SegmentationThis report forecasts revenue growth at the regional and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2018 to 2030. For this study, the analyst has segmented the global mobile gaming market report based on platform, device, game genre, distribution channel, monetization model, age group, and region. This report addresses: Market intelligence to enable effective decision-making Market estimates and forecasts from 2018 to 2030 Growth opportunities and trend analyses Segment and regional revenue forecasts for market assessment Competition strategy and market share analysis Product innovation listings for you to stay ahead of the curve Companies Featured The major companies featured in this Mobile Gaming market report include: Tencent Holdings Limited Apple Inc. Google LLC NetEase Inc. Activision Blizzard Inc. Electronic Arts Inc. Nintendo Co, Ltd. Take-Two Interactive Software Inc. (includes Zynga Inc.) Roblox Corporation Supercell Oy Playrix Holding Ltd Niantic Inc. Key Attributes: Report Attribute Details No. of Pages 140 Forecast Period 2024 - 2030 Estimated Market Value (USD) in 2024 $139.38 Billion Forecasted Market Value (USD) by 2030 $256.19 Billion Compound Annual Growth Rate 10.2% Regions Covered Global Key Topics Covered: Chapter 1. Methodology and ScopeChapter 2. Executive Summary2.1. Market Outlook2.2. Segment Outlook2.3. Competitive InsightsChapter 3. Mobile Gaming Market Variables, Trends, & Scope3.1. Market Lineage Outlook3.2. Market Value Chain Analysis3.3. Market Dynamics3.4. Mobile Gaming Market Analysis Tools3.4.1. Industry Analysis - Porter's3.4.2. PESTEL Analysis3.5. Market Technology TrendsChapter 4. Mobile Gaming Market: Platform Estimates & Trend Analysis4.1. Segment Dashboard4.2. Mobile Gaming Market: Platform Movement Analysis, 2024 & 2030 (USD Billion)4.3. Android4.4. iOS4.5. Hybrid/Cross-Platform4.6. Progressive Web Apps (PWAs)Chapter 5. Mobile Gaming Market: Device Estimates & Trend Analysis5.1. Segment Dashboard5.2. Mobile Gaming Market: Device Movement Analysis, 2024 & 2030 (USD Billion)5.3. Smartphones5.4. TabletsChapter 6. Mobile Gaming Market: Game Genre Estimates & Trend Analysis6.1. Segment Dashboard6.2. Mobile Gaming Market: Game Genre Movement Analysis, 2024 & 2030 (USD Billion)6.3. Action & Adventure6.4. Puzzle6.5. Role-Playing (RPG)6.6. Strategy & Simulation6.7. Sports & Racing6.8. Others6.8.1. Others Market Revenue Estimates and Forecasts, 2018-2030 (USD Billion)Chapter 7. Mobile Gaming Market: Distribution Channel Estimates & Trend Analysis7.1. Segment Dashboard7.2. Mobile Gaming Market: Distribution Channel Movement Analysis, 2024 & 2030 (USD Billion)7.3. App Stores7.4. Cloud Gaming Platforms7.5. Web-Based (Instant Play)Chapter 8. Mobile Gaming Market: Monetization Model Estimates & Trend Analysis8.1. Segment Dashboard8.2. Mobile Gaming Market: Monetization Model Movement Analysis, 2024 & 2030 (USD Billion)8.3. Free-to-Play (F2P)8.4. In-App Purchases8.5. Premium (Paid Games)8.6. Play-to-Earn (P2E)8.7. Subscription-BasedChapter 9. Mobile Gaming Market: Age Group Estimates & Trend Analysis9.1. Segment Dashboard9.2. Mobile Gaming Market: Age Group Movement Analysis, 2024 & 2030 (USD Billion)9.3. Gen Z9.4. Millennials / Gen Y9.5. Gen X9.6. Baby BoomersChapter 10. Mobile Gaming Market: Regional Estimates & Trend Analysis10.1. Mobile Gaming Market Share, By Region, 2024 & 2030 (USD Billion)Chapter 11. Competitive Landscape11.1. Company Categorization11.2. Company Market Positioning11.3. Company Heat Map Analysis11.4. Company Profiles For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Mobile Gaming Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
Bloomberg
a day ago
- Business
- Bloomberg
Turkey ETF Inflows Signal Interest in Stock Market Missing Rally
Inflows into foreign-traded Turkish ETFs, funds that serve as barometers of international interest in the country's equities, are showing signs of renewed interest in a stock market that has missed this year's emerging-market rally. The $154 million iShares MSCI Turkey ETF — an exchange-traded fund that tracks the the MSCI Turkey Index — has seen an inflow of $21.4 million in June, on track for its best month in two years. Similar ETFs are also on the rise, helping the Borsa Istanbul 100 gauge to its best month since November.
Reuters
2 days ago
- Business
- Reuters
Bond giant PIMCO sees emerging markets in 'Goldilocks' moment
June 26 (Reuters) - Emerging markets are enjoying a "Goldilocks" moment, heavyweight bond fund PIMCO told Reuters, as U.S. President Donald Trump's erratic policy moves push the dollar down and send investors away from U.S. assets. "This is the most prominent capital rotation we have seen for the best part of two decades ... and we still think we are in the early innings of this," said Pramol Dhawan, PIMCO's head of EM portfolio management, outlining the $2 trillion asset manager's second-half view on emerging markets, where the firm holds some $70 billion in assets. "We are very constructive on the asset class, we think it is a Goldilocks-type backdrop for EM assets," he said, pointing partly to investor overexposure to the U.S. and a weakened dollar. PIMCO is the latest asset manager to warm to emerging market assets with EM local currency debt enjoying record inflows in recent weeks. The rotation is driven by import tariffs, rising concerns over U.S. debt levels and some loss of confidence in the government there, Dhawan said. Parts of Europe, Asia, and Latin America are the preferred destinations. The dollar index (.DXY), opens new tab is down 10% year-to-date while emerging currencies (.MIEM00000CUS), opens new tab have gained nearly 7%. "Flows have been very strong for the first time in a number of years," Dhawan said. Flows to local currency assets outstripping money headed for emerging market hard currency ones was "a sign of investors' willingness to embrace the dollar depreciation story and think more internationally around a search for yield." Emerging stocks (.MSCIEF), opens new tab are outperforming the S&P 500 (.SPX), opens new tab so far this year by 10 percentage points, while local currency bonds have returned more than 11% this year in dollar terms. (.JPMGBIEM), opens new tab U.S.-based investors did not have sufficient exposure to and were trying to figure out if this rally has durability, Dhawan said. "EM is in a good position where the underlying fundamentals are pretty healthy and robust," he said, adding that he did not expect capital flows to stop. Net capital inflows from non-residents to emerging markets are estimated at $887 billion in 2025, up from $852 billion in 2024, and forecast to hit $935 billion next year, according to the Institute of International Finance. Investor interest was also more broad based, Dhawan said, adding that the institutional investor base had become more established in emerging markets. Dhawan dismissed the risk of a policy reversal under Trump that could trigger a spike in the dollar. "These capital flows are genies that can't be put back in the bottle because they are irrespective of what the U.S. does now, there's been some loss of confidence in the administration."
