Emerging Money Daily Audio Call July 6 - While the world is focused on Greece and the weekend’s no vote, China and Asian equity assets are under more pressure thus EM overall badly underperforming.
Like last week when Greece indicated they were turning against the creditors, the Euro and Bond yields are following a similar path. China has introduced the concept of the stabilization fund and the hope is there are more PBoC liquidity operations coming in to support tone.
Right now its about “My Bazooka is bigger than yours” We handicap next moves for Greece and the ECB and EZ stance. Commodities suffering along with EM and because of EM. Oil and Copper are the weak links to the commodity complex despite and strong show of PMI data last week.
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