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EMs will be good buy on dips market as long as oil holds in $45-55 range
Geoff Lewis, Global Strategist - Capital markets, Manulife Asset Management
Apr 21, 2017 | Source: CNBC TV18
As long as oil holds in the range of USD 45-55 per barrel any dip in the emerging market equities will be a good opportunity to buy.
We saw in rebound in iron ore prices which were far sharper than fundamentals. I think as long as oil holds between USD 45-55 per barrel and economic data continue to be good in global economies emerging markets (EMs) will be a good buying opportunity on dips.
There is some uncertainty in global markets which could lead to some bit of correction in the short term but in the long term, the global data is still supportive.
We have things like political uncertainty in Europe as we have French election and Theresa May called for snap elections and in the US we have Trump’s failure to push through healthcare reforms. All these events are signalling for a correction in the short term, but having said that on a slightly long term horizon, say 3 months, global economic data is still supportive.Related Keyword
Oil prices
Crude Oil
Emerging Markets
EMs
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