If there's one data point that makes us feel like we’re not bearish enough on emerging market asset classes it’s this one:
“In the four years through 2012, investors poured $3.9 trillion into emerging markets, outstripping the $3.1 trillion they added in the same period leading up to the global financial crisis, said SLJ Macro’s Jen, citing data from Institute for International Finance Inc.”
When the liquidity starts to reverse, investors start to find out just how [il]liquid EM debt and equity capital markets really can be!
#EmergingOutflows
