Suddenly its time for markets to get ready to digest another important employment number as the debate rages on whether the stock market has gotten ahead of the recovery.
EM vs DM: Emerging Markets yesterday kissed their lows again the SPX going back through the crisis, even including a spike down when EM “bottomed” first in the Fall of 2008.
According to very detailed data compiled by BAML and EFPR, last week Emerging Market fund outflows were $6.4Bn, which is the largest such move since August of 2001.
LONG the US Dollar was a trade that for much of 2013 was a consensus view, but to many this trade failed despite the backdrop of a stronger US economy and the Fed in the wings to taper.
Happy New Year from Emerging Money!
We start you off with four charts that matter today and will matter this year –
Interesting that it took a simulative Fed statement on tapering coupled with a rates outlook to give the Dollar Index (DXY) its biggest gain d/d since August.
Last night the White House announced that Federal Reserve Vice Chairwoman Janet Yellen has been nominated to be next head of Federal Reserve.