Strategy Report
Necessary But Not Sufficient
The Fed backing off from rate hikes is a necessary but not sufficient step toward putting a floor under global risk assets. Equity market breadth measures are still very weak, suggesting the selloff remains broad-based. The bear market in commodities/EM/China will likely culminate in a credit event. Downgrade Mexican stocks from overweight to neutral within an EM equity portfolio.
BCA Research | Emerging Markets Strategy
Global Investment Strategy, Counterpoint, Emerging Markets Strategy, China Investment Strategy, European Investment Strategy, US Investment Strategy.
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