- 08 June 2026
Emerging market (EM) equities currently trade near their widest discount to developed markets in 20 years—paired with faster expected earnings growth and exposure to companies powering the global AI value chain.
A wider pitch: Lessons from the largest football World Cup in history
- PROFESSIONAL INVESTORS
- Visit
- 08.06.26
The 2026 football World Cup will be the largest in history. For the first time, 48 nations will compete, up from 32, and it will be co‑hosted across three countries: the United States, Canada and Mexico. This expanded format creates more qualifying places, particularly for regions that have historically been under‑represented and introduces additional routes into the tournament.
Global capital markets have followed a similar path. The MSCI Emerging Markets equity index now covers 24 countries, up from 10 at launch, and its share of global market capitalisation has more than doubled since 2000. The bond market has expanded too. Local-currency emerging market (EM) debt markets have grown significantly over the past decade and EM government borrowing in dollars has risen sharply, with new issuers joining the field alongside familiar names.
A 48-team World Cup gives more nations a seat at the table — but not on equal terms. The same is true in markets.
Read about the lessons investors can learn from the World Cup.
