Despite a rally back in the USD and the sudden recalibrated growth outlook for the world from Brexit, Commodities are picking up steam.
On the call we give you first round thoughts after a wild night of polling and trading.
Our investors get insight into today’s an SCI rebalance that takes place at 5 PM.
Emerging Money Daily Audio Call June 3 – Weaker payrolls mean many things and we begin to discuss the broader implications for the market fallout after the US labor market looks suddenly feeble.
People have been bearish on EM (EEM, quote) growth and we continue to hear trade data spouted daily that is stated to indicate limited upside growth to EM economies in the near term. Fundamentals are debatable, but core technical factors are working for EM investors:
Using a chart provided by UBS and taken from data from EFPR who compiles an amazing amount of information on fund flows within the investment community and particularly insightful on EM, we want to assess where the opportunities for rotation, beating the index, and where we think investors are offsides.
Rates higher as we wait for Fed minutes. Clearly the short end of the US curve is more fearful of the Fed than the long end.
GLEN, X: Resource names may be building another round of momentum to take out recent highs after a sharp pullback took 25% off the run in names like US Steel.
RUSSELL (IWM): The Russell staged a big move off the lows at 960 and has been consolidating for a few weeks above the important 1075 level ( $108 in the $IWM).
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