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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
- The deceleration in Chinese economic activity, strong momentum on the USD amid elevated uncertainty and more recently the deterioration in the Russia/Ukraine conflict have been weighing on EM equities in the past year.
- EM equities are down over 11% since the start of the year, driven by the weakness in Asia (ex-Japan) and CEEMEA equities.
- The chart below shows the performance of equity sectors since the start of the year.
- Defensive sectors Telecom and Utilities stand among the best performing equity sectors this year, up 3.8% and 2%, respectively, and significantly outperforming the EM equity market.
- In addition, the sharp increase LT bond yields have been supporting financial equities, up 2.2%.
- We recently noted the divergence between EM banks, which have outperformed the equity market, and Europe/US banks, which have been underperforming the market despite the significant surge in LT yields.
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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