10 days ago we advised rotating out of MBT into YNDX in Russia. The rally in MBT was adding and we saw underperformance in YNDX.
As European shares hit 14yr highs this AM here is a look back on a note we wrote in mid Jan as Europe began trading off the lows. Emerging Markets equities were also starting to trade better despite the fact that the currencies were plunging.
We are getting out front on a Brazil call that others may catch on to and it’s not necessarily rooted in some dramatic fundamental change on the horizon.
Delta Bank in Ukraine where MBT held $1.4UAH (Ukrainian Hryvnia) or $60 million U.S. dollars in cash and deposits at the end 2014 has declared insolvency.
Emerging Money Daily Audio Call March 5 – On today’s call we highlight outperformance of Europe and a rebound in global markets today despite Dollars strength that’s pushing EM currencies to the brink.
Recapping a couple macro themes from today that are part of larger macro views we have.
Emerging Money Daily Audio Call February 9 – On the call today we recap her Renda’s weekend data from
It’s been a great run in potash related stocks and Ag overall. My basic thesis when the Russian broke the cartel in potash was that it was just a matter of time before the entire industry fought back and kept it together.