The recent Emerging Market rally is built off a combination of fundamental and technical factors.
We said 52K on the Ibovespa was a place to take profits.
Look at Japanese and Brazilian stocks since 2012.
I am starting to get a lot of questions from investors regarding the sustainability of this rally in Emerging Markets and what can be the drivers for the next leg(s) higher.
Emerging Market equities are outperforming the SPX today by 1.2% and have now rallied 7.6% in 2 weeks even as the SPX hits all-time highs.