Mounting political risks in Emerging Markets
In addition to renewed trade tensions between the US and China, political tensions, especially in Asia, have risen – China vs. Hong Kong, Japan vs. South Korea, India vs. Kashmir – triggering a rise in risk aversion for emerging assets.
Although a number of exceptional factors weighed on the manufacturing sector in H2 2018, many observers had hoped to see activity pick up again in spring 2019.
12 August 2019
Purchasing Manager Indexes are due in key countries, including the US and the euro zone. They will shed some light on the momentum of the activity cycle.
The European Commission will shortly publish its opinions on the budget plans of its members, another opportunity to turn the spotlight on Italy, with markets reflecting the relative hopelessness of the situation (a lose/lose situation for the EU).
The US will celebrate Thanksgiving on Thursday. The Friday after, also known as “Black Friday”, is the start of the Christmas shopping season for retailers.