As British banking awaits the potentially revolutionary results of a vote on membership of the European Union, and with summer
just around the corner, when trading activity tends to subside during this
period, emerging markets could well benefit from the subdued trading activity
on capital markets, as growth forecasts seem to be stabilising, albeit
selectively by region, on the back of the recent recovery in commodity prices.
Sell in May and go away? Not quite this time round. The US Dollar and the trajectory of interest rates in the US continued to be the greatest contributor to uncertainty and volatility during the month of May. The Risk-On button was switched on and off a number of times during the month, but despite the increased certainty of a June rate hike in the US, Emerging Markets were still in demand, with the more defensive regions such as Asia and Europe outperforming. The same cannot be said of those countries that are heavily reliant on metals and mining, which sectors underperformed. In fact, outflows were registered as the strong US dollar impacted investor appetite for EM assets.
Sell in May and go away? Not quite this time round. The US Dollar and the trajectory of interest rates in the US continued to be the greatest contributor to uncertainty and volatility during the month of May. The Risk-On button was switched on and off a number of times during the month, but despite the increased certainty of a June rate hike in the US, Emerging Markets were still in demand, with the more defensive regions such as Asia and Europe outperforming. The same cannot be said of those countries that are heavily reliant on metals and mining, which sectors underperformed. In fact, outflows were registered as the strong US dollar impacted investor appetite for EM assets.
On a more exciting note, the
ITFA conference website is live and registrations have started flowing in!
Please click here to register. Also
bear in mind that the Early Bird Discount has been extended till 20 June 2016.
Therefore, we urge you to book at your earliest in order to avail yourselves
from these preferred rates.
Also, ITFA is totally aware of the need for
finance professionals to network, talk with old and new partners and find
opportunities as cost effectively as possible. As this year’s Conference starts
to gain pace, we are pleased to announce that our networking portal is now open
for business. All registrants will be sent an email with a link to a networking
page. You can then look up availability of other delegates and book a space in
our dedicated networking room. So let’s get this web of networking tangled and
hope to see you in Warsaw!
In this month’s Newsletter, we invite
you to read an interesting article written by Dr. Benedict Oramah titled ''The
Fall and Rise of Structured Trade Finance.'' The ITFA Board is also pleased to inform its readers regarding the revamp of the Southern European Regional Committee (SERC). Following the month of May which was laden
with ITFA events, we are hereby publishing a short press release on the ITFA
GRC Annual Stammtisch and another on the NERC Amsterdam Spring event.
We look forward to hearing from you with any feedback you may want to share with us by sending an email to myself, any of the Board Members or to our general email, info@itfa.org.
We look forward to hearing from you with any feedback you may want to share with us by sending an email to myself, any of the Board Members or to our general email, info@itfa.org.
Best wishes,
Sean Edwards
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