Strategy Report
Narratives Versus Reality
The global search for yield, not an improvement in EM fundamentals, has been driving the EM rally. EM/China growth conditions have stabilized but not recovered. Barring a full-fledged cyclical profit upsurge in EM EPS, EM stocks are not cheap at all. EM/China final demand for commodities will disappoint and will likely produce a major reversal in EM risk assets.
Interested in reading this report?
To access the full BCA Research report, request a complimentary copy
BCA Research | Emerging Markets Strategy
Critical input for global and EM investors as it provides global macro investment themes as well as recommendations for EM equities, currencies, and fixed income.
Stay Connected with BCA
Get our latest events and research insights delivered to your inbox.