According to BI: Emerging market assets – currencies, debt, and stocks – all
had a pretty terrible month in May. Poor performance in emerging markets was so pronounced
during the month of May alone that several Wall Street shops are now out with
big calls declaring the "end of the bull market." However, despite
the wave of negative sentiment that has hit emerging markets, macro hedge funds
were in there buying up EM last month.
It looks like either the macro funds are taking a bath on
their increased exposure to EM, or they see the latest movements in the market
as a good buying opportunity….
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