Though many point out that it is new Emerging Markets Great Run… the drivers yet has to emerge.. Otherwise it just looks like a flow trade: out of the US and into GEMs

Source: ML

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Chart: Great Run in Emerging Markets this year +17% YTD, +26% 1-Year…There are no really acute drivers that are clearly on surface and its still below the levels where it was 3 years ago.. Though many point out that it is new Emerging Markets Great Run… the drivers yet has to emerge.. Otherwise it just looks like a flow trade: out of the US and into GEMs Source: ML Download file in Power Point Comment Weekly performance is between 2017-05-25 and 2017-05-19 Best global markets week to date EFM ASIA +1.95%, EM (EMERGING MARKETS) +1.90%, USA +1.42%, While worst global markets week to date EUROPE 0.29%, FM (FRONTIER MARKETS) 1.05%, EM LATIN AMERICA 1.32%, US stocks CHAOS: Investors ditch almost $9 billion of equities as ... International Stock Funds Take Lead Over US Equities Emerging Markets Are Not All Created Equal Fund manager Q&A: Emerging markets funds China stocks calm after volatility from rating downgrade; Hong Kong ... Chinese stocks rise, push past 1st China credit downgrade in nearly ... European Equity Benchmarks Close Mixed; U.K. Growth Revised ... European stocks finish lower after Merkel says euro 'too weak' Oil price falls despite deal to extend output cut Unveiled: Venezuela, Syria's Secret Scheme To Bypass Oil Sanctions Steel Price Forecast, April 2017: US Steel to Invest in Plants US Steel Prices Fall in May, and This Might Just Be the Beginning Today Gold Price: Track today gold rate latest trends and news Gold Price Chart: Find all the latest gold rate chart and news Best since the start of the week among various stock markets were KENYA +5.89%, PAKISTAN +5.06%, ZIMBABWE +4.68%, BOTSWANA +3.93%, SOUTH AFRICA +3.56%, KOREA +3.25%, TURKEY +3.25%, NEW ZEALAND +2.49%, EGYPT +2.46%, NIGERIA +2.34%, While worst since the start of the week among various stock markets were TRINIDAD AND TOBAGO -2.80%, INDONESIA -1.44%, ITALY -1.43%, MOROCCO -1.42%, GREECE -1.39%, TUNISIA -1.26%, UNITED ARAB EMIRATES -1.23%, KUWAIT -1.12%, PERU -1.08%, BOSNIA AND HERZEGOVINA -1.07%