Does MM like the Emerging Markets through 2023?

Hi John,

The Emerging markets are inversely correlated to the extremely influential $US i.e. while the Greenback has fallen over -12% since its September high the Emerging Markets ETF (IEM) has recovered over +14%. Hence it should come as no great surprise that our strong macro views towards the $US is dictating our outlook for the Emerging Markets:

• From a risk/reward perspective we believe the $US is overdue a bounce which should weigh on the IEM short-term.
• However in the bigger picture we are bearish the $US and bullish the IEM leaving us an accumulator of weakness of Emerging Markets.
• Keep abreast of our opinions towards the $US and resources, as they will apply to  EM’s.

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Emerging Markets ETF (IEM)

LAST UPDATED 03/02/2023 15:05

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Emerging Markets ETF (IEM)

LAST UPDATED 03/02/2023 15:05