??-To The Moon - Tiger Brokers Online Investing Community - To The Moon

Like
Comment
Favorite

sgczhao
2021-08-23

??

Goldman Sachs: The worst is over, the lost decade for emerging markets is over

大宗商品价格上涨和收益增长预期引发了对新兴市场股票的看涨押注。此前10多年，新兴市场股票表现不佳，使其相对于发达国家股票的表现接近20年低点。南非、俄罗斯和巴西等市场将从中受益。　　然后，世界爆发了新冠疫情，尽管股市从2020年3月的低点开始强劲反弹，但新兴市场的股市再次落后。美联储的会议记录还导致大宗商品价格下跌。　　同时，并不是所有人都相信最糟糕的时期已经过去。

Goldman Sachs: The worst is over, the lost decade for emerging markets is over

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Like

Report

Comment

Top
Latest

empty

No comments yet

Most Discussed

{"i18n":{"language":"en_US"},"data":{"magic":2,"id":832451798,"tweetId":"832451798","gmtCreate":1629676129514,"gmtModify":1676530090409,"author":{"id":3564398777411265,"idStr":"3564398777411265","authorId":3564398777411265,"authorIdStr":"3564398777411265","name":"sgczhao","avatar":"https://static.tigerbbs.com/463ea3f31ed77071863bce732e8e8336","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":5,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"extraTitle":"","html":"<html><head></head><body><p>??</p></body></html>","htmlText":"<html><head></head><body><p>??</p></body></html>","text":"??","highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/832451798","repostId":2161216747,"repostType":4,"repost":{"id":"2161216747","kind":"news","pubTimestamp":1629666180,"share":"https://ttm.financial/m/news/2161216747?lang=en_US&edition=fundamental","pubTime":"2021-08-23 05:03","market":"sh","language":"zh","title":"Goldman Sachs: The worst is over, the lost decade for emerging markets is over","url":"https://stock-news.laohu8.com/highlight/detail?id=2161216747","media":"新浪财经","summary":"大宗商品价格上涨和收益增长预期引发了对新兴市场股票的看涨押注。此前10多年，新兴市场股票表现不佳，使其相对于发达国家股票的表现接近20年低点。南非、俄罗斯和巴西等市场将从中受益。　　然后，世界爆发了新冠疫情，尽管股市从2020年3月的低点开始强劲反弹，但新兴市场的股市再次落后。美联储的会议记录还导致大宗商品价格下跌。　　同时，并不是所有人都相信最糟糕的时期已经过去。","content":"<p>Rising commodity prices and earnings growth expectations have triggered bullish bets on emerging market stocks. More than a decade earlier, emerging-market stocks underperformed, bringing their performance relative to developed-world stocks near 20-year lows.</p><p><a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>The Group Goldman Sachs Group Inc.,<a href=\"https://laohu8.com/S/BAC\">Bank of America</a>($Bank of America Corp (BAC-N) $.) and Lazard Asset Management expect investors to take advantage of low valuations to help the global economy recover from the pandemic once a vaccine is rolled out, which will boost stocks in developing countries. Markets such as South Africa, Russia and Brazil stand to benefit.</p><p>In the 10 years since the global financial crisis broke out,<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>Capital International's emerging market stock index rose just 8%, while benchmarks in developed countries more than doubled.</p><p>Then the world broke out in a COVID-19 pandemic, and while equities bounced back strongly from their March 2020 lows, equities in emerging markets lagged behind again. The MSCI Developed Markets stock index has returned about 14% since the start of 2021, while the emerging markets stock index is down 5%.</p><p>And that could change in the coming months as the global economic recovery gains momentum, inflation rises, and raw material prices driven by infrastructure projects in various countries continue to rise.</p><p>There are signs that the shift has begun. Since March this year, as investors shifted to value stocks, capital flows in emerging markets in Eastern Europe, the Middle East and Africa have accelerated, exceeding inflows into bond funds to the highest level since 2014, Bank of America said.</p><p>Lazard said that although GDP growth in emerging markets lagged behind developed countries in 2021, that could start to change in the fourth quarter as economic activity in advanced economies begins to slow and commodity prices rise.</p><p>Much of the outperformance of U.S. stocks over the past decade has been related to the massive amount of liquidity provided by the Federal Reserve, which has mostly failed to reach emerging markets. When liquidity disappears, stock markets around the world may suffer a temporary shock, but the United States will lose its edge. This supports the idea that emerging market equities could outperform in a post-stimulus world.</p><p>Stocks in developing countries joined global equity markets lower after the Federal Reserve signaled stimulus cuts could begin later this year, also proving their sensitivity to the prospect of tapering bond purchases. The minutes of the Fed's meeting also caused commodity prices to fall.</p><p>At the same time, not everyone believes that the worst is behind us.<a href=\"https://laohu8.com/S/BLK\">BlackRock</a>The Investment Institute downgraded emerging market stocks to neutral earlier this month amid uncertainty over the dollar's outlook and policy tightening.</p>","source":"sina","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Sachs: The worst is over, the lost decade for emerging markets is over</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Sachs: The worst is over, the lost decade for emerging markets is over\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">新浪财经</strong><span class=\"h-time small\">2021-08-23 05:03</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Rising commodity prices and earnings growth expectations have triggered bullish bets on emerging market stocks. More than a decade earlier, emerging-market stocks underperformed, bringing their performance relative to developed-world stocks near 20-year lows.</p><p><a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>The Group Goldman Sachs Group Inc.,<a href=\"https://laohu8.com/S/BAC\">Bank of America</a>($Bank of America Corp (BAC-N) $.) and Lazard Asset Management expect investors to take advantage of low valuations to help the global economy recover from the pandemic once a vaccine is rolled out, which will boost stocks in developing countries. Markets such as South Africa, Russia and Brazil stand to benefit.</p><p>In the 10 years since the global financial crisis broke out,<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>Capital International's emerging market stock index rose just 8%, while benchmarks in developed countries more than doubled.</p><p>Then the world broke out in a COVID-19 pandemic, and while equities bounced back strongly from their March 2020 lows, equities in emerging markets lagged behind again. The MSCI Developed Markets stock index has returned about 14% since the start of 2021, while the emerging markets stock index is down 5%.</p><p>And that could change in the coming months as the global economic recovery gains momentum, inflation rises, and raw material prices driven by infrastructure projects in various countries continue to rise.</p><p>There are signs that the shift has begun. Since March this year, as investors shifted to value stocks, capital flows in emerging markets in Eastern Europe, the Middle East and Africa have accelerated, exceeding inflows into bond funds to the highest level since 2014, Bank of America said.</p><p>Lazard said that although GDP growth in emerging markets lagged behind developed countries in 2021, that could start to change in the fourth quarter as economic activity in advanced economies begins to slow and commodity prices rise.</p><p>Much of the outperformance of U.S. stocks over the past decade has been related to the massive amount of liquidity provided by the Federal Reserve, which has mostly failed to reach emerging markets. When liquidity disappears, stock markets around the world may suffer a temporary shock, but the United States will lose its edge. This supports the idea that emerging market equities could outperform in a post-stimulus world.</p><p>Stocks in developing countries joined global equity markets lower after the Federal Reserve signaled stimulus cuts could begin later this year, also proving their sensitivity to the prospect of tapering bond purchases. The minutes of the Fed's meeting also caused commodity prices to fall.</p><p>At the same time, not everyone believes that the worst is behind us.<a href=\"https://laohu8.com/S/BLK\">BlackRock</a>The Investment Institute downgraded emerging market stocks to neutral earlier this month amid uncertainty over the dollar's outlook and policy tightening.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://finance.sina.com.cn/world/2021-08-23/doc-ikqcfncc4401952.shtml\">新浪财经</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3a7d208683cff9046f5b2ec49bb73add","relate_stocks":{"GS":"高盛"},"source_url":"https://finance.sina.com.cn/world/2021-08-23/doc-ikqcfncc4401952.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/b0d1b7e8843deea78cc308b15114de44","article_id":"2161216747","content_text":"大宗商品价格上涨和收益增长预期引发了对新兴市场股票的看涨押注。此前10多年，新兴市场股票表现不佳，使其相对于发达国家股票的表现接近20年低点。\n高盛集团（Goldman Sachs Group Inc．）、美国银行（$Bank of America Corp(BAC-N)$．）和拉扎德资产管理公司（Lazard Asset Management）预计，一旦疫苗推出，投资者将利用低估值，帮助全球经济从疫情中复苏，这将提振发展中国家的股票。南非、俄罗斯和巴西等市场将从中受益。\n在全球金融危机爆发后的10年里，摩根士丹利资本国际的新兴市场股指仅上涨了8%，而发达国家的基准股指则上涨了一倍多。\n然后，世界爆发了新冠疫情，尽管股市从2020年3月的低点开始强劲反弹，但新兴市场的股市再次落后。MSCI发达市场股指自2021年初以来的回报率约为14%，而新兴市场股指则下跌了5%。\n而在未来几个月，随着全球经济复苏势头增强、通胀加剧、各国基础设施项目推动的原材料价格持续上涨，这种情况可能会改变。\n有迹象表明，转变已经开始。美银表示，自今年3月以来，随着投资者转向价值型股票，东欧、中东和非洲新兴市场股市的资本流动加速，超过了流入债券基金的资金，为2014年以来的最高水平。\n拉扎德表示，尽管新兴市场的GDP增速在2021年落后于发达国家，但随着发达经济体的经济活动开始放缓以及大宗商品价格上涨，这种情况可能在第四季度就会开始改变。\n在过去的十年里，美国股市的优异表现在很大程度上与美联储提供的大量流动性有关，而这些流动性大多未能到达新兴市场。当流动性消失时，世界各地的股市可能会遭受暂时的冲击，但美国将失去其优势。这支持了新兴市场股市在刺激结束后的世界中可能表现出色的观点。\n在美联储暗示可能从今年晚些时候开始削减刺激措施后，发展中国家的股市与全球股市一道走低，这也证明了它们对缩减购债规模前景的敏感性。美联储的会议记录还导致大宗商品价格下跌。\n同时，并不是所有人都相信最糟糕的时期已经过去。贝莱德投资研究所本月早些时候将新兴市场股票评级下调至中性，原因是美元前景的不确定性和政策收紧。","news_type":1,"symbols_score_info":{"GS":0.9}},"isVote":1,"tweetType":1,"viewCount":2303,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":2,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}