Emerging Money Daily Audio Call May 18 – On the call today we follow through on the rates discussion we posted today in our “Monday Morning Charts” piece.
Dollar strength equals Euro weakness today with some collateral damage in Central Europe from Greek IMF loan worries. Overall we see EM currencies behaving better than the move in the Dollar might suggest.
In the short term EM might struggle as the Dollar looks to recover from a reversal of fund flows and sentiment but ultimately we expect EM will “hold serve” before using this as a base line for outperforming as we enter the tightening cycle.
China reports flash PMI on Wednesday evening. We refresh our views on how to play Chinese internet names.
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