QEMM - Emerging Markets: The Trade Of The Next Decade

• Largely tied to the fate of the US dollar, the underperformance of emerging markets relative to their developed counterparts may finally be ending.
• A rising US dollar causes the domestic currency of emerging economies to fall and inflation to rise amid weaker economic growth.
• On a relative basis, the long-term downtrend relative to US equities looks to be finally finding a bottom and setting up a reversal of trend.

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