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EM PMIs recover close to 50 as EM equities outperform
Weekly investor research
06 July 2020
EM PMI’s rose close to 50 in June as EM equities outperformed DM equities last week. Argentina released a new exchange offer valid until 5 August. China cut policy rate benchmark for small business loans. High frequency data improved sharply in Brazil. Colombia cut rates. India current account registered the first quarterly surplus in 13 years. Remittances improved in Mexico. Russians voted on referendum allowing President Putin to run in the 2024 and 2030 elections. Nigeria hikes fuel prices in line with the existing price mechanism that eliminated subsidies. South African external accounts surprised on the upside. China approved a new security law for Hong Kong.