{"id":599325,"date":"2019-06-25T04:00:06","date_gmt":"2019-06-25T04:00:06","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/25\/the-fed-hasnt-eased-yet-but-emerging-markets-are-already-feeling-the-benefits\/"},"modified":"2019-06-25T04:00:06","modified_gmt":"2019-06-25T04:00:06","slug":"the-fed-hasnt-eased-yet-but-emerging-markets-are-already-feeling-the-benefits","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/25\/the-fed-hasnt-eased-yet-but-emerging-markets-are-already-feeling-the-benefits\/","title":{"rendered":"The Fed hasn\u2019t eased yet but emerging markets are already feeling the benefits"},"content":{"rendered":"

<\/a> The Fed hasn\u2019t cut rates yet, but emerging markets are already feeling the benefits of its \u201cdovish\u201d stance:<\/b> Emerging-market bonds and currencies posted their best week since 2017 last week after the US Federal Reserve and the European Central Bank gave their strongest hints yet that easing could soon be back on the table, Bloomberg says<\/a>. The MSCI EM Currency Index saw its biggest weekly gain in almost two years, while EM bond exchange-traded funds (such as the iShares JPMorgan USD EM bond ETF<\/a> and the Bloomberg Barclays EM Local Bond UCITS ETF<\/a>) surged.<\/p>\n

Investors are searching for yield as returns on US treasuries crater:<\/b> Yields on safe haven assets (such as US treasuries<\/a> and German bunds<\/a>) have fallen in recent weeks as market certainty of renewed Fed stimulus has increased and the US-China trade spat has escalated.<\/p>\n

This bodes well for emerging markets. <\/b>\u201cWith yields across the developed world getting back to ridiculously low levels, it makes EM debt assets all the more attractive,\u201d Eric Stein, money manager at Eaton Vance, said. Brett Diment, head of EM debt at Aberdeen Standard Investments, said that any rate cuts by the Fed will create a \u201cpretty good environment\u201d for EM bonds, provided the US avoids falling into recession.<\/p>\n

Trade remains the elephant in the room.<\/b> Rising geopolitical and trade tensions pose the greatest threat to EM assets, fund managers tell Bloomberg<\/a>. Angus Bell, senior portfolio manager in EM debt at Goldman Sachs Asset Management, doesn\u2019t see the US and China reaching a trade settlement any time soon, while Union Investment Privatfonds is concerned that the increasing number of geopolitical flashpoints could lead to an accident.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Fed hasn\u2019t cut rates yet, but emerging markets are already feeling the benefits of its \u201cdovish\u201d stance: Emerging-market bonds and currencies posted their best week since 2017 last week after the US Federal Reserve and the European Central Bank gave their strongest hints yet that easing could soon be back on the table, Bloomberg […]<\/p>\n","protected":false},"author":1,"featured_media":599326,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9272],"tags":[82,380,115,72,725,349,724,1510,388],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-599325","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-macro-picture","tag-bonds","tag-currencies","tag-emerging-markets","tag-enterpriseam","tag-european-central-bank","tag-interest-rates","tag-monetary-policy","tag-the-macro-picture","tag-us-federal-reserve","wpautop","entry"],"acf":{"mongo_id":"4fa5e79d-e7ef-4183-9b7c-9dfc4f6b3d0c","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2019\/6\/2876.jpg","photo_position":"above","related_issue":[599308],"teaser":"","voice_url":""},"yoast_head":"\nThe 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Fed rate cut -Bloomberg survey: Emerging market equities, bonds, and currencies will reap the benefits if the world\u2019s major central banks go ahead with expected rate cuts, according to a quarterly poll of 42 fund managers, traders, and strategists conducted by Bloomberg.\u2026","rel":"","context":"In "THE MACRO PICTURE"","block_context":{"text":"THE MACRO PICTURE","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-macro-picture\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/7\/2360.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":550819,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/28\/em-debt-is-under-pressure-but-after-headwinds-subside-latin-america-could-be-in-for-a-windfall\/","url_meta":{"origin":599325,"position":1},"title":"EM debt is under pressure \u2014 but after headwinds subside, Latin America could be in for a windfall","author":"enterpriseam admin","date":"28 April 2022","format":false,"excerpt":"US real yields turning positive to raise pressure on EMs: The inflation-adjusted 10-year yield on US treasuries turned briefly positive last week, sounding alarm bells among emerging-market money managers, Bloomberg reports. US-based Franklin Templeton said it would cut its positions in high-yield debt, while Fidelity International is betting against EM\u2026","rel":"","context":"In "THE MACRO PICTURE"","block_context":{"text":"THE MACRO PICTURE","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-macro-picture\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/4\/537.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":594550,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/01\/emerging-markets-suffer-worst-august-in-decades\/","url_meta":{"origin":599325,"position":2},"title":"Emerging markets suffer worst August in decades","author":"enterpriseam admin","date":"1 September 2019","format":false,"excerpt":"Emerging markets suffer worst August in decades: EM stocks suffered USD 873 bn in losses last month and currencies experienced their worst August since 1997, Bloomberg says. The iShares MSCI EM ETF saw a record increase in short interest as yearly gains on EM ETFs were almost entirely wiped out,\u2026","rel":"","context":"In "THE MACRO PICTURE"","block_context":{"text":"THE MACRO PICTURE","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-macro-picture\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/8\/38.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":554578,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/19\/sp-trims-em-growth-outlook-for-2022\/","url_meta":{"origin":599325,"position":3},"title":"S&P trims EM growth outlook for 2022","author":"enterpriseam admin","date":"19 December 2021","format":false,"excerpt":"Emerging markets are walking into the new year with a lower growth outlook from S&P Global Ratings, which revised downwards its growth forecast for emerging markets by 0.1 percentage points to 3.5%. The ratings agency attributes the revision to the pandemic\u2019s overstay and a slowdown in China for the downgrade,\u2026","rel":"","context":"In "THE MACRO PICTURE"","block_context":{"text":"THE MACRO PICTURE","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-macro-picture\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/12\/677.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":555881,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/30\/omicron-fed-taper-hits-emerging-market-bond-etfs\/","url_meta":{"origin":599325,"position":4},"title":"Omicron + Fed taper hits emerging-market bond ETFs","author":"enterpriseam admin","date":"30 November 2021","format":false,"excerpt":"Omicron + Fed taper hits emerging-market bond ETFs: Investors pulled more than USD 850 mn from emerging-market debt ETFs last week as the discovery of the Omicron covid variant and the decision to keep Jay Powell as Federal Reserve head for another term fuelled risk-off sentiment, data from Bloomberg shows.\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":565162,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/the-em-policy-dilemma-threatens-fresh-bout-of-volatility\/","url_meta":{"origin":599325,"position":5},"title":"The EM policy dilemma threatens fresh bout of volatility","author":"enterpriseam admin","date":"23 March 2021","format":false,"excerpt":"The EM scramble to strike policy balance could lead to a wave of volatility: As the global commodities boom threatens to cause a surge in inflation, central banks in emerging markets are faced with an age-old dilemma: keep rates high to hold down prices or accommodate growth and pour more\u2026","rel":"","context":"In "Macro picture"","block_context":{"text":"Macro picture","link":"https:\/\/enterpriseam.com\/egypt\/category\/explainers\/macro-picture\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/3\/528.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/599325","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=599325"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/599325\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/599308"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/599326"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=599325"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=599325"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=599325"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=599325"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=599325"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}