Futures & FX

Emerging Money Chinese Internet Index (EMCHI) Rebalance

We have made the following adjustments to the EMCHI as of April 15th:  Baidu (BIDU, quote) and Tencent (TCEHY, quote) as mega-cap plays in the index already occupy the two largest weightings but have seen healthy pullbacks to core support and remain the best mix of proven revenue growth and...

Emerging Markets vs Developed Markets

Our spread analysis of Emerging Market equities vs Developed Market equities failed to breach the .2300 level as we proposed last week after an 11% outperformance move over the preceding 4 weeks. 
Our view remains this spread is to be bought but that no real rally is a straight line.  Emerging...

Taming the Crude Oil Beast – Playing the Volatility

WTI crude oil (USO, quote) continues its climb higher overnight to over $104.40 a barrel before settling back under  $104 handle at U.S. equities open.  Crude oil has not seen $104 handle since mid-September.
Everywhere you turn the past 6-9 months, headlines boast how much crude oil is being...

Emerging Markets Stock Review

The recent Emerging Market rally is built off a combination of fundamental and technical factors. The most powerful catalyst was the oversold conditions that technically set up Emerging Markets to outperform the developed equity landscape for the last month.
Fund flows out of emerging markets...

Down Day – Emerging Markets vs SPX

S&P is having its fourth worst day of the year (-1.6%), but Emerging Markets only down 40bps.  
Continued outperformance in EM as rotation and improved macro keep the trade going.  
The worm continues to turn.