Russia is oversold. While Russia may not be the best longer term trading call, present conditions look oversold.
Big outflow last week of $-2.2 billion after a week of strong flows $1.9 billion the week before. What I am seeing today and over last few days in ETF land is that investors are allocating to emerging markets away from domestic markets.
It’s pretty good, and very clever, although the closing jab reeks of soviet mentality and philosophy. I’m talking through this issue today on CNBC Street Signs and here is the layout I’m following:
I just got back from a week in the islands and tried to escape the chorus of emerging market bears. It’s been a nasty week and emerging markets has been near the top of the loser board, but the reach of journalists and voices of marginal observers of emerging markets found its way to me on a quiet beach in the Caribbean.
Last week, Emerging Market Equity Fund Flows were down for the 4th straight week with the largest outflows seen since the August 2011 bloodbath.