Emerging Markets, Look Beyond the Index

Emerging Markets, Look Beyond the Index – Download Chart of the week

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• Cooling inflation and weaker consumption reduced expectations for an imminent Fed hike, supporting equities despite persistent concerns over long-term borrowing costs.
• Stronger-than-expected growth improved the UK outlook, but rising energy costs, inflation risks and tight public finances continue to constrain policy.
• Europe faces a difficult mix of elevated energy costs, renewed rate-hike expectations and rising fiscal pressures, particularly in France.
• China signalled further support as Japanese rate-rise expectations increased, while Russia tensions and Hormuz disruption heightened geopolitical and energy risks.