Emerging Money Daily Audio Call November 30 - Today we see the same tax cut market themes play out in Financials, Retail, Transports but we do see "opportunistic" buying back in higher momentum, growth stocks.
While we do not expect global growth dynamics to change in the next 3-6 months we do think cyclicals have priced in more than their share of better macro and enterprise spending. Value over growth will remain in vogue into the new year.
Emerging Markets are trading lower as we have seen some slowing of the flows into Asian tech, and overall volatility in local China trading.
We remain impressed by EPS growth and value in the Latam and Asian regions. Tactical traders see a chance to buy EEM closer to the 50dma which has held serve since March 2017. Stay tuned.