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Long COP, RUB - Trade Recommendation

EMERGING MARKETS

Natwest Suggest Next Leg Of EM Rally Best Expressed Through COP and RUB Longs

  • Believe the Peso and Ruble offer most value as they catch up to the rally in oil.
  • Expect this rally to be sustained by increased global growth expectations.
  • Subdued sanction risk in Russia along with positive momentum regarding tax reform in Colombia, strengthen the calls.
  • The trades are recommended against an even weight of Euro and US dollar.

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