WATCH: Animal Spirits
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With just a couple months left before a well-earned break for most, this year’s market action is still keeping investors anxious.
We’ve had the taper without the tantrum, the BoE surprise hold and more hot air than bold action out of Glasgow on Cop26.
The beginning of the end of cheap money was heralded as the moment emerging-market stocks would reverse a decade spent in the shadow of their developed-nation peers.
It’s turning out to be anything but.
After a three-week rally in October that briefly raised hopes of a comeback, the benchmark gauge for the group has sunk back, reaching a 20-year low relative to its main US counterpart.
That’s providing early evidence that while global markets are adjusting to the idea of less stimulus from central banks including the Federal Reserve, emerging markets are failing to get much traction.
Let’s find out what the animal spirits are telling us with Chris Holdsworth, chief investment strategist at Investec Wealth and Investment
We’ve had the taper without the tantrum, the BoE surprise hold and more hot air than bold action out of Glasgow on Cop26.
The beginning of the end of cheap money was heralded as the moment emerging-market stocks would reverse a decade spent in the shadow of their developed-nation peers.
It’s turning out to be anything but.
After a three-week rally in October that briefly raised hopes of a comeback, the benchmark gauge for the group has sunk back, reaching a 20-year low relative to its main US counterpart.
That’s providing early evidence that while global markets are adjusting to the idea of less stimulus from central banks including the Federal Reserve, emerging markets are failing to get much traction.
Let’s find out what the animal spirits are telling us with Chris Holdsworth, chief investment strategist at Investec Wealth and Investment
