Apples numbers were fantastic and the cash flow generation better than anything in history ( and better than most of European economies). We think markets are a little tired from US earnings season and this could play well for relative value trades towards EM.
We coined March 17, 2015 as Janet Yellen was poised to deliver a statement following the March FOMC meeting. The Dollar peaked around 100.40 and hasn’t been back.
We expect a hike (good for currency) but think it may be last of the cycle for COPOM.
We love Apple as a company and as an innovator…and also as an EM powerhouse. Say what you want about Apples ASP price point being too high, but it’s still a global aspirational brand that developing nation consumers want to own.
Emerging Money Daily Audio Call April 24 – Global markets moving higher with Latam taking center stage…Where do we see the most opportunity and is Brazil’s recent strong performance more than bottom fishing?
Emerging Money Daily Audio Call April 23 – On today’s call we discuss we review global markets that are sideways. EU PMIs and Greece are not the reason for why European equities are weaker today – Why then?? We review…
Waaaaybo! Weibo: Stock has moved 20% the lows as pressure on the company has alleviated, BABA takeover talk rumbles on and improved user metrics. (LONG)
Emerging Money Daily Audio Call April 22 – On the call today we recap global markets move slightly lower this AM as US earnings season delivering the expected heaviness on outlook due to the USD and a high bar on valuations and softer seasonal conditions.
Gold continues to hover around the $1,200 level these past couple weeks on fears over Greece and its ability to satisfy its creditors.
Emerging Money Daily Audio Call April 21 – On the call today we look at global markets which move higher continuing improved sentiment from Fridays Greece and China fallout. US earnings season enters its busiest phase and will underscore EPS divergence and currency dynamics which overall benefit Europe and EM equities.