The bulls return to emerging markets
The bulls are charging back into emerging markets. The MSCI Emerging Markets index has lagged so far this year, gaining 6.8% to the developed world’s 11.7%. Yet last month it outperformed developed markets for the first time since January, says Bloomberg. The commodity boom has powered the latest rise: materials and energy make up 14% of the MSCI EM index, compared with 8% for the developed market gauge.
Global money managers pulled $44bn from emerging markets during the first half of
