Disclaimer: Views in this blog do not promote, and are not directly connected to any Legal & General Investment Management (LGIM) product or service. Views are from a range of LGIM investment professionals and do not necessarily reflect the views of LGIM. For investment professionals only.

Emerging markets – is spring finally coming (in autumn)?

Following a hugely volatile summer, emerging markets rebounded in September. Is the comeback sustainable?

Emerging market (EM) assets have been selling off this year as a stronger US dollar and higher US rates made external funding more expensive; outflows from EM funds also added to the sell-off. But September saw a rebound, and even the most affected markets such as Turkey and Argentina regained ground after policymakers took remedial action. Also, investors saw value in EM assets, especially those with a high credit rating, and inflows resumed. So is the tide really turning for the EMs? Or is this just a temporary improvement, and will renewed US dollar strength or another jump in US rates erase it?

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