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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 constant downward revision in growth expectations combined with the elevated inflationary pressures have left global risky assets vulnerable in recent weeks, particularly EM equities.
- CEEMEA remains the riskiest region among the EM world with surging recession risks (particularly in Europe) and the geopolitical uncertainty associated with the Russia/Ukraine conflict.
- EM cyclical stocks have been selling aggressively in the past week, with EM financials (MSCI) breaking below the 307.90 support and down 17% since their February high.
- Next support to watch on the downside stands at 300.
- In addition, we previously saw that the dramatic fall in China real M1 (in 2021), computed as the difference between China M1 and PPI inflation, has been pricing in cheaper ‘financial equities’ for months despite the financials currently being attractive from a ‘value approach’.
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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