By Morgan Harting
Transcript:
Emerging markets were up pretty sharply through the beginning of May: about 13% for equities, almost 7% for debt. Part of that was because of this consensus that developed that the US and China would reach some agreement on trade and there might be some historic handshake that would resolve their differences.
On May 5th, President Trump tweeted his intention to raise tariffs on Chinese goods, which completely upended that market consensus. So while the underlying growth from emerging companies remains strong, it's expected that earnings growth will be about 10%