FXStreet (Barcelona) – The Brown Brothers Harriman Team summarizes the financial market performance in emerging markets in the week, noting that RUB was the top loser, declining around 8% versus the dollar.
Key Quotes
“Over the last week, UAE (+1.6%), Qatar (+1.6), and Hong Kong (+0.9%) have outperformed in the EM equity space as measured by MSCI, while Russia (-6.6%), Chile (-5.4%), and Taiwan (-4.3%) have underperformed. To put this in better context, MSCI EM fell -2.6% over the past week while MSCI DM fell -1.4%.”
“In the EM local currency bond space, Ukraine (10-year yield -121 bp), Chile (-8 bp), and Peru (flat) have outperformed over the last week, while Russia (10-year yield +45 bp), Brazil (+41 bp), and Indonesia (+36 bp) have underperformed. To put this in better context, the 10-year UST yield rose 29 bp over the past week.”
“In the EM FX space, PEN (+0.4% vs. USD), PKR (+0.1%), and INR (+0.1) have outperformed over the last week, while RUB (-8.0% vs. USD), COP (-3.7%), and ZAR (-3.5%) have underperformed.”
(Market News Provided by FXstreet)