Emerging Money Daily Audio Call September 25 – This week markets are confronting the fallout from German elections which were not the slam dunk they were supposed to be and the impact this will have on the US Dollar, already consolidating its losses and building a base last week.
Meanwhile Draghi speaks and sounded more dovish today than he did last week, despite our expectation that the ECB will being tapering next year and we will get some real detail later in October.
Rotation is the name of the game when discussing the moves in Energy, Retail, and even Industrials at the expense of Tech, EM, and even Banks. Fundamentals support selected valuations in Retail and Energy but they are also supportive of why Mega-cap tech is resilient, and why we like Emerging Market equities longer term.
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