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EM assets well supported amidst “Draghi tantrum"

Weekly investor research

03 July 2017

The Czech National Bank confirmed that rate hikes are on the way. China launched the China-Hong Kong Stock Connect today as China manufacturing activity surprises to the upside. Brazil cuts the 2020 inflation target to 4%. Argentina’s economy surprises on the upside. Colombia cut rates by 50bps. Turkish tourism rebounds. Thailand moves to fast track infrastructure investments. In the global backdrop we argue that Emerging Markets assets are likely to be well-supported despite an increase in volatility caused by what seems to be a coordinated hawkish turn by global central banks, the so-called “Draghi tantrum”.

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