Monday, March 4, 2019

An EM warning

For several months, the BAML Fund Manager Survey shows that global institutions have been piling into emerging market equities.


The purchase of EM equities has been a smart move, as they have been leading the market upwards. However, their time in a leadership role may be coming to an end owing to a series of disappointments. EM started to top out against the MSCI All-Country World Index (ACWI) in early February, and relative performance has been rolling over ever since.



The full post can be found here.

No comments: