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EM manufacturing upswing

Weekly investor research

06 June 2016

EM manufacturing is rising even as manufacturing in developed markets slumps – which is likely due to the effects of financial policies in developed economies. The outlook for EM FX reserves is brightening – we explain why and how. Oman looks set to be the 66th country in the JP Morgan EMBI GD index, which is now an extremely diversified index, and therefore a great deal safer than just a few years ago. Petrobras makes progress. Peru has gone to the polls. Mexico’s fiscal outlook is benign and Saudi considers a big bond issue and clamps down on speculators. The global market backdrop is changing – one way to think of it is that markets are shifting from a giant momentum trade to value investing; EM should be well-placed to perform well in this environment.

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