Be that as it may, there’s some good news for emerging markets. Global fund managers now say the region they would most like to overweight in the next 12 months is the emerging market (EM) universe. A net 18 percent of global investors are now overweight emerging markets, a sea change from the 10 percent underweight three months ago. What’s more, the current allocation is 0.1 standard deviations below its long-term average, so there’s plenty of scope for it to go higher. The percentage of fund managers overweight EM was much higher towards the end of last year and the first few months of 2018. … [Read more...] about Quick Take | Global fund manager survey finds extreme bearish sentiment, but allocation to emerging markets improves
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Subsequent Fed governors have continued with Greenspan’s policies. The upshot: total debt to the US non-financial sector, as a percentage of GDP, is now higher than what it was before the financial crisis. Similarly, total debt to the US non-financial corporate sector is also higher than it was during the crisis. It’s no wonder then that the markets are worried about the impact of tightening liquidity. … [Read more...] about Opinion | What spooked global markets?
hotter and lasted longer than any since records began in 1870. Known as “the blob,” the heatwave caused sea surface temperatures along the Pacific coast of North America to rise by 1-2°C. That may sound trivial, but it was enough to cause massive disruption in the marine ecosystem. The fish that common guillemots normally eat, such as herring, sardine, and anchovy, either died or moved into cooler waters elsewhere, leaving the guillemots with little to eat. As a result, many birds starved. … [Read more...] about One million seabirds died in the North Pacific during 2016’s brutal ocean heatwave