Emerging Money Daily Audio Call July 7
Emerging Money Daily Audio Call July 7 - June payrolls in the US rose more than expected and despite the absence of wage pressure the Fed is still very much on the front foot.
Amazingly, the Bank of Japan was buying the long end of the curve in Japan this morning, and whie this may work in the short run 10yr yields in Europe are the example of where it is all going.
Industrial metal stocks suffering today as the G 20 and China offer no hope for supply discipline. Meanwhile Brent(oil) back to its losing ways and and facing some key technicals levels potentially next week.
Emerging Markets struggle with the concept of higher rates but if we are truly getting better growth then EM's adjustment has already taken place. For the $EEM, key technical support needs to be held over the next few sessions.