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(Bloomberg) The rally in commodity prices is bolstering the outlook for emerging-market currencies and boosting parts of credit and stocks even as it fuels concerns about higher inflation.
(Bloomberg) The rally in commodity prices is bolstering the outlook for emerging-market currencies and boosting parts of credit and stocks even as it fuels concerns about higher inflation.
The Bloomberg Commodity Spot Index has risen to the highest since 2012 after advancing 8.7% last month in the biggest jump since August. Many investors expect more gains as the world pulls out of the pandemic.
Thatâs helped lift the MSCI Emerging Markets Currency Index near a record after it surged 1.5% in April, the most this year. A gauge of global stocks has also continued up after increasing 4.2% last month, the best in four. Corporate debt from Asian metal and mining firms has also outperformed, returning 2% in April compared wit
The Straits Times
Commodity rally sparks jump in emerging currencies but fuels inflation concerns
The strength in commodities, which have surged 65 per cent over the past year, is only set to intensify the debate about price increases.PHOTO: EPA-EFE
Published2 hours ago
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Commodity Rally Sparks Jump in Emerging Currencies, Credit
This content was published on May 4, 2021 - 04:43
May 4, 2021 - 04:43
(Bloomberg) The rally in commodity prices is bolstering the outlook for emerging-market currencies and boosting parts of credit and stocks even as it fuels concerns about higher inflation.
The Bloomberg Commodity Spot Index has risen to the highest since 2012 after advancing 8.7% last month in the biggest jump since August. Many investors expect more gains as the world pulls out of the pandemic.
That’s helped lift the MSCI Emerging Markets Currency Index near a record after it surged 1.5% in April, the most this year. A gauge of global stocks has also continued up after increasing 4.2% last month, the best in four. Corporate debt from Asian metal and mining firms has outperformed, returning 2% in April compared with just 0.4% for broader Asian emerging-market dollar bonds.
The MSCI Asia Pacific Index is on track to underperform its global counterpart for a third straight month in April its worst streak since 2019 as new infections rocket past other regions. Foreign investors withdrew about $1.8 billion from emerging Asia stocks excluding China last week, according to latest available data compiled by Bloomberg, and global money managers appear less optimistic on near-term prospects.
“Vaccinations are being rolled out, but slow enough that lockdown risks are still real in many places,” said Joshua Crabb, a portfolio manager at Robeco in Hong Kong. “It makes sense to keep a mix of beneficiaries of reopening and some more defensive names whilst keeping a little in reserve to buy any selloff in the event markets sell off more aggressively.”