While President Donald Trump said on Monday that prospects for a deal with China are better despite last week’s events, emerging-market stocks and currencies continued their descent. Pompeo is visiting Tokyo from Oct. 4-6 for a meeting of the foreign ministers of four of the Indo-Pacific region’s biggest democracies, State Department spokeswoman Morgan Ortagus said in a statement, — With assistance by Tomoko Yamazaki, and Alec McCabe. Still, last week’s revelation that Trump tested positive for the Covid-19 coronavirus will likely keep risk appetite in check. Stimulus Collapse, U.S. Unemployment, Mexico Support: Eco Da... It’s Spain, Not Italy, That Has European Investors Worried. The $24.4 billion iShares MSCI Emerging Markets ETF was the biggest loser among developing-nation equity funds, dropping $556 million in the fifth straight week of outflows. Emerging markets received capital flows of around $2.1 billion (Dh7.71bn) in August, down from $15.2bn in July, the Institute of International Finance said in its latest Capital Flows Tracker report. For …
Regionally, emerging markets in Asia received the most capital, registering inflows of $4.7bn, followed by Latin America at $700m, with all the remaining regions posting outflows of capital, the IIF said. Against that backdrop, the benchmark emerging-market currency gauge climbed 0.5% in the five days through Friday, led by the South African rand and Mexican peso.
Five things learnt from latest flows data . Investor anxiety, as measured by implied volatility for developing-nation currencies, eased by the most in three months last week, according to a JPMorgan Chase & Co. index.
Following are tables detailing net flows for emerging-market ETFs in US dollars.
Outflows from U.S.-listed ETFs that invest across developing nations as well as those that target specific countries totaled $972.3 million in the week ended Aug. 23, according to data compiled by Bloomberg. Capital flows play a major role in many emerging markets (EMs), as they finance spending and affect financial market performance.
Developing-nation currencies are also benefiting from broad dollar weakness, with the U.S. currency still below its 200-day moving average. This paper documents the evolution of gross and net capital flows to emerging market economies and surveys the large literature on the potential drivers. Emerging-market stocks and currencies were stronger on Monday following news Trump may be released from the hospital soon. Following are tables detailing net flows for emerging-market ETFs in US dollars. All quotes delayed a minimum of 15 minutes.
Total Covid-19 infections in India, Asia’s third-largest economy, have crossed more than 3.6 million as the country reported several record daily rises in infections in the past few weeks. If you would like to receive IIF Capital Flows Alerts, please subscribe here. Spanish Stimulus of 72 Billion Euros Seeks to Cement Recover... Ukrainian Central Bank Chief Defends Reprimands Amid IMF Ris... S&P Futures Rise, Treasuries Dip Amid Trump Tweets: Markets... Norway Reveals Record Withdrawals From $1.1 Trillion Fund. * Graphic: World FX rates tmsnrt.rs/2egbfVh * Graphic: Foreign flows into Asian stocks tmsnrt.rs/3f2vwbA * FX, stock gains ease as details on Trump health eyed * … China/Hong Kong had the biggest outflow, of $556.9 million, following withdrawals from, Kazakhstan had the biggest inflow, of $4.27 million, led by. Concern over high, unsustainable debt levels is another factor to watch.
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“One reason may be growing differentiation in flows to EM, with some markets seeing outflows that continue to build. Stimulus Collapse, U.S. Unemployment, Mexico Support: Eco Da... It’s Spain, Not Italy, That Has European Investors Worried.
While the capital flow landscape has been shaped by the evolution of both global and country-specific factors, the relative importance of these factors has varied over time and differs depending on the type of capital flows. IIF Flows Alerts are an early warning system designed to detect turning points in capital flows to emerging markets, based on the daily portfolio flows data. But official data tend to be released with a considerable lag. Daily data as of 7/21/2020. Thailand announced on Monday, The South African Reserve Bank will publish its six-monthly Monetary Policy Review on Tuesday, The monetary policy committee kept its key rate at 3.5% in September after 300 basis points of easing and said inflation will remain close to the 4.5% mid-point of its target range in 2021 and 2022, The rand outpaced all of its peers last week, Chile investors will watch for September trade-balance and copper-export figures on Wednesday, A reading of September consumer price inflation on Thursday will probably break the downtrend of the past six months, according to economists surveyed by Bloomberg, The peso was the best-performing currency in emerging markets during the third quarter, Brazilian retail sales data for August, due on Thursday, will probably flag increased consumption amid fiscal stimulus and low rates, On Friday, investors will watch September inflation figures for an uptick driven by rising food and goods prices. Emerging markets received capital flows of around $2.1 billion (Dh7.71bn) in August, down from $15.2bn in July, the Institute of International Finance said in its latest Capital Flows Tracker report. Pompeo’s earlier itinerary included trips to Mongolia and South Korea on Oct. 6-8.
Using panel data and high-frequency identification, we then turn to our main contribution.
Have a confidential tip for our reporters? Argentina’s investors will be keen to see the impact of central bank measures that allow the peso to depreciate faster.
After a relatively calm first half of 2019, EM capital outflows probably picked up significantly in August as US-China trade tensions escalated. Poland’s central bank will probably keep its benchmark rate at a record low of 0.1% on Wednesday, even after inflation accelerated in September.
Non-resident portfolio inflows to emerging markets slowed to $2.1 billion in August from $15.2 billion in July and $29.4 billion in June, the IIF said. “Nevertheless, our data shows that the rebound in flows to EM is small compared to outflows earlier in the year,” Mr Fortun said. Capital controls that protect recipient countries from excessively risky types of flows are a crucial ingredient of such a system.
Have a confidential tip for our reporters? The current run of outflows has drained $12.3 billion from the market, compared with a $7.8 billion loss during a six-week sell-off that started in May.
Spanish Stimulus of 72 Billion Euros Seeks to Cement Recover... Ukrainian Central Bank Chief Defends Reprimands Amid IMF Ris... S&P Futures Rise, Treasuries Dip Amid Trump Tweets: Markets... Norway Reveals Record Withdrawals From $1.1 Trillion Fund. While a stronger dollar could have a “negative FX valuation effect,” the decline would be offset by a solid current current and bond-market inflows, the U.S. bank said, The yuan has been resilient this year and the inclusion of Chinese sovereign bonds into the, Chinese markets will be closed for holidays until Thursday, Taiwan’s trade balance, due on Wednesday, could reflect higher exports to meet demand for tech products, The Taiwan dollar is among Asia’s best-performing currencies this year amid a rebound in exports, A slew of inflation data will be released this week. There is no hard-and-fast rule on what level of debt-to-gross domestic product is acceptable for emerging-market countries — it largely depends on the level of stability in a country’s economic infrastructure. Capital flows to emerging markets drop 48% in July amid spike in coronavirus cases, Emerging market countries are reaching their limit in supporting economies amid pandemic, IMF increases annual limit of finances countries can borrow as pandemic persists. EM debt saw outflows of $2.3 billion, the first negative reading since March, while equity saw $4.4 billion in inflows. “We don’t expect those concerns to spread to other emerging-market countries.”. %%EOF New disclosures about his treatment raise concern that his condition is more serious than what the American public has been told. This year’s net inflow now stands at a mere $109.9 million.
Recipients will get timely notifications of incipient surges and reversals of foreign portfolio flows. “Gyrations in the US-China trade narrative, a fresh bout of market turmoil in some EMs and lingering questions on the post Covid-19 recovery path marked the dynamics of non-resident flows during August,” Jonathan Fortun, an economist with the IIF, said. Non-Chinese emerging market stocks attracted some $3.8 billion, the data showed, the largest monthly inflow since July 2019. Listen: EM Weekly Podcast: All Eyes on Trump; China Data; Rate Decisions. Non-resident portfolio inflows to emerging markets slowed to $2.1 billion in August from $15.2 billion in July and $29.4 billion in June, the IIF said.
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