FYI: The headline on Bloomberg on Nov. 21 was certainly an eye-catcher: “A $1 Trillion Manager Sees Emerging Market Rebound on Trade Truce Next Year”
The premise from Chris Gaffney, president of world markets at TIAA Bank in St. Louis, is pretty simple: The damage is done, the trade war will end in 2019 and emerging economies will recover fast. And it doesn’t matter if you believe him—there’s a lot of smart money calling “enough is enough” in emerging markets.
How Did We Get Here?
Sometimes, a picture tells the whole story. Here’s the performance of the major emerging market countries over the past year:
Regards,
Ted
https://www.etf.com/sections/features-and-news/do-you-have-2019-china-plan
