Emerging-Frontier Equity Monthly – June: Dollar strength and Covid resurgence

  • Stronger Dollar helps DM outperform EM. Changing US Fed tone and inflation behind Brazil, Mexico, Russia rate hikes.

  • In Large EM, Oil (Russia, Saudi), Iron (Brazil), China Tech outperform Korea-Taiwan Tech and Sth Africa (Gold, Covid)

  • In Small EM-FM, Tech, Oil (Colombia, GCC, Nigeria) outperform Copper (Chile, Peru) and Tourism (Dubai, Thailand)
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This report is independent investment research as contemplated by COBS 12.2 of the FCA Handbook and is a research recommendation under COBS 12.4 of the FCA Handbook. Where it is not technically a research recommendation because the subject of the research is not listed on any European exchange, it has nevertheless been treated as a research recommendation to ensure consistent treatment of all Tellimer's research. This report has been produced by the analyst(s) named above (the "Analyst").

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