4 Sep 2015
EM performances: BRL, RUB and ZAR the worst - BBH
FXStreet (Córdoba) - The research team at Brown Brothers Harriman noted the relevance of events in emerging markets that took place during the week.
Key Quotes
“In the EM equity space, Colombia (+1.7), China (+0.7%), and Qatar (+0.6%) have outperformed over the last week, while India (-4.5%), Hong Kong (-3.6%), and Peru (-3.1%) have underperformed. To put this in better context, MSCI EM fell -3.7% over the past week while MSCI DM fell -3.5%.”
“In the EM FX space, PEN (+0.7% vs. USD), CNY (+0.5% vs. USD), and CLP (+0.2% vs. USD) have outperformed over the last week, while BRL (-5.5% vs. USD), RUB (-3.5% vs. USD), and ZAR (-3.0% vs. USD) have underperformed.”
“Brazil’s government will submit budget proposal for 2016 that projects a primary deficit instead of the previously expected surplus (…) Brazil’s COPOM kept rates steady at 14.25% this month, as expected. It was the first time that rates were kept steady since last October.”
Key Quotes
“In the EM equity space, Colombia (+1.7), China (+0.7%), and Qatar (+0.6%) have outperformed over the last week, while India (-4.5%), Hong Kong (-3.6%), and Peru (-3.1%) have underperformed. To put this in better context, MSCI EM fell -3.7% over the past week while MSCI DM fell -3.5%.”
“In the EM FX space, PEN (+0.7% vs. USD), CNY (+0.5% vs. USD), and CLP (+0.2% vs. USD) have outperformed over the last week, while BRL (-5.5% vs. USD), RUB (-3.5% vs. USD), and ZAR (-3.0% vs. USD) have underperformed.”
“Brazil’s government will submit budget proposal for 2016 that projects a primary deficit instead of the previously expected surplus (…) Brazil’s COPOM kept rates steady at 14.25% this month, as expected. It was the first time that rates were kept steady since last October.”