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Emerging markets were in a wait-and-see mode as a stronger dollar offsetting cheap valuations and a lull in trade war.
Developing country currencies halted a two-day rise, while losses. The volatility of the Turkish lira exploded, as investors hesitated to unwind months of recovery after President Recep Tayyip Erdogan demanded exclusive power to appoint the governor of the central bank and appointed his son-in-law as treasurer and chief financial officer. Meanwhile, the Mexican peso has boosted its global rally since the left election of Andres Manuel Lopez Obrador earlier this month.
"The external environment should already have been unfavorable for EM and we are now waiting for a rebound," said Cristian Maggio emerging markets strategy at TD Securities in London. "But markets do not always behave according to our expectations, so we'll have to wait and see."
Fund managers focus on short-term strength prospects and technical indicators that suggest lower risk badets. Morgan Stanley's strategists have called the recent emerging market rally "fake" and recommended selling on equities and bonds, while Goldman Sachs Group Inc. said developing countries "are now offering relative value." The stock market indices look attractive, but they add that he is in no hurry to back down during the quarter.
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ANALYSIS:
- Emerging-Market Rally [19659013] Morgan Stanley Pits vs. Goldman Sachs
- Global Markets are Shaking off China's Flashback 2015. Here's why
- World Debt exceeded $ 247 billion in the first quarter, IIF says
- Wall Street Mulls following the curve of badets at risk to trade Angst
LATAM:
- MEXICO:
- The Mexbol index fell 0.4% to 49,015.68
- The Peso won 0 , 7% to 19.049 per dollar
- The yield on 10-year local bonds fell by four basis points to 7.691% [19659012] Real money and leveraged accounts have seen long positions on the dollar fall around the dollar Banks: Televisa, the world's largest producer of Spanish-language television, has jumped after announcing a 36% increase in programming sales in the second quarter
- Santander Mexico Double Upgraded to Credit Suisse at lower risk
- BRAZIL:
- Ibovespa rose 0.2% at 75,134.94, the highest in almost five weeks
- The real gained 1.2% to 3.83 per dollar
- 10 years The bond yield dropped 23 basis points to 11.13 %.
- The attempt to free ex-president Luiz Inacio Lula da Silva over the weekend shows that the Workers' Party will continue to fight to maintain its candidacy; According to New York Merchants
- Brazil's prospects are expected to improve after the October elections because the next government will be forced to tackle the budget deficit, no matter who is elected, Marco Antonio Barros, CEO of Brasilprev Seguros e Previdencia
- UBS said that Brazilian shares should underperform bonds
- Brazil Rolls Over All 14,000 exchange swaps offered
- ARGENTINA:
- The Merval index rose by 0.8% to 27,829.61
- The Peso gained 0.6% to 27.72% for a dollar
- The bank Central will likely maintain its director interest rate at 40% while badysts predict that the central bank will soon change to 20 badysts surveyed by Bloomberg
- The government has ordered the public sector a freeze of money. hiring to achieve IMF objectives
- Click for market news about ANDES
EMEA:
- TURKEY: [19659022] Borsa Istanbul 100 Index fell 3 percent to 96,274.69
- Lira won 0.7 percent to 4.7013 per dollar
- Berat Albayrak, newly appointed Minister of Finance and Treasury, said fiscal and fiscal discipline will be "better maintained"
- "I was waiting to what Erdogan learned about the bitter cost of playing with the markets, "said Atilla Yesilada, economist at GlobalSource Partners in Istanbul
- Meet Erdogan's son-in-law
- Wonderful badysts What will become the Turkish central bank
- The new dynasty of Erdogan makes Turkey Ininvestable: Marcus Ashworth
- MOEX index Russia a dropped 0.3 Percentage to 2,365.02
- The ruble rose 0.6% to 62.13 5 for one dollar, the strongest in almost five weeks
- The yield on 10-year local bonds fell by three basis points to 7.59%
- Russia predicts $ 80 billion [19659060] Debt Despite Sanctions
- The FTSE / JSE Index Africa All Share fell 0.4% to 51,795.51
- Rand Wins 0.6 per cent to 13.3359 per dollar, the highest in almost four weeks
- The 9-year local bond yield gained four basis points to 8.664%
- The nation's business confidence s & # 39, collapsed for a fifth consecutive month and the threat of a global trade war
- "Rand's strength over the past 1-2 weeks is a function of EM FX's broader, CDS sovereign narrowing, and a floor / consolidation of gold prices, "said Henrik Gullberg of the traditional strategy ng EM at Nomura International in London
ASIA:
- CHINA:
- The Shanghai composite index rose by 0 , 4% to 2,827.63
- Yuan Offshore decreased by 0.2 percent to 6,638 by dol lar
- The 10-year local bond yield gained less than one basis point to 3 , 5575%
- "The fall of the yuan is a concern, but as long as it's not a severe downtrend, it's not the" Manu George, director of fixed income at Schroder Investment Management Ltd. in Singapore
- The inflation of factories accelerated in June while the price of commodities remained
- PBOC adviser Liu Wei said that "the price of commodities has been maintained. there is room for an additional injection of liquidity China Daily reports
- Foreign funds retain Versant in China despite the crisis of Yuan
- The sale of convertible bonds shows Financing pressure in China
- INDIA:
- Senbad index rose 0.8% to 36,239.62, the highest in more than five months
- Rupee decreased by 0.1% to 68.821 per dollar
- 10 years of local bond yield gained one basis point to 7.9004 percent
- "Markets are comfortable with corporate earnings outlook in the first quarter, "said Deven Choksey, chief executive of KR Choksey Shares & Securities Pvt. Mumbai
- The Government Sold Tuesday a 70-Day Cash Management Invoice
- The sale of CMB is seen as another negative for bonds, said Debendra Kumar Dash, a trader at the Bank of China. AU in Mumbai
- Click to learn more about markets in Asia
– With the help of Gregor Stuart Hunter
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