Rising interest rates in the U.S. have been a key driver behind the turmoil in the emerging markets. While there will likely be additional upward bias for interest rates in the U.S., we believe rate hikes may not be as aggressive as feared by some on Wall Street.
Rising interest rates in the U.S. have been a key driver behind the turmoil in the emerging markets. While there will likely be additional upward bias for interest rates in the U.S., we believe rate hikes may not be as aggressive as feared by some on Wall Street.
The discretionary sector struggled as did all growth and quality-oriented areas of the market in 2022. That was a classic re-set and a raging opportunity to add exposure.
The Institute for Supply Management’s monthly survey of purchasing managers came in below expectations for August, while the Bureau of Labor Statistics jobs report indicated that nonfarm payrolls expanded by only 142,000 jobs during the month (against expectations of 161,000 jobs).
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