Another reason we continue to give the benefit of the doubt to equities is the position of Asian Indices, they look really good, shame we can’t join the party! The Korean KOSPI is the standout on the charts, it looks set to make fresh highs which is a great read through for at least a bounce in the Emerging Markets where we remain long in our Global Macro Portfolio through the iShares ETF (IEM).
MM is bullish the Korean KOSPI looking for over 10% upside.
