RIO DE JANEIRO, BRAZIL - A swathe of top investment banks and funds are piling into emerging market assets on a double-lift in confidence after U.S. President Donald Trump’s election defeat and this week’s coronavirus vaccine breakthrough.
With poorer economies that rely on natural resources, cheap manufacturing or tourism set to benefit from a recovery in global trade and travel, as well as a more predictable White House, Morgan Stanley’s message on Wednesday was simply “Gotta Buy EM All!”.
Its big bets are on the currencies of China, Mexico, Brazil, South Africa, Colombia and Russia and . . .