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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
EMERGING MARKETS
- Selling pressure on EM energy stocks was intense in February despite soaring oil prices amid deterioration in Russia/Ukraine conflict.
- Energy was the worst performing sector among the EM world, down 13.7% last month while EM equities (MXEF index) were down 3.1%.
- Consumer discretionary equities continue to remain vulnerable, down 7% in February.
- Consumer Discretionary remains the worst performing sector in the past year as consumer confidence indicators continue to stand at 'depressed' levels due to Covid uncertainty and surging inflation.
- Health Care stocks have also been performing poorly in the past year (second worst performing sector), down 28.4% since February 2021.
- The rise in the US Dollar, the vulnerability of EM equities, a 'strong reversal' following sharp post-Covid gains could be some of the factors explaining the sharp consolidation in the 'expensive' health care stocks.
- The poor performance in EM real estate in the past year has been mainly driven by the collapse in China real estate developer Evergrande, which sparked fear of looming credit contagion in 2021. Real estate stocks are down 26.4% since February 2021.
Source: Bloomberg/MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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