The Emerging Markets were flat for the month of October as Evergrande, mentioned in the previous month’s commentary, paid out a second delayed coupon within a grace period on Friday, sending a wave of relief across debt markets.
Brazil saw senators vote in favour of charging President Jair Bolsonaro over his handling of the coronavirus pandemic, leading to equities to slide.
While both Russia and Mexico missed expected forecasts, as, real wages in Russia only grew by 1.5% compared to 3.5% and Mexico’s GDP growth figures indicate a mild contraction (-0.2% GDP growth) compared to an expected forecast of a moderate expansion.
|Emerging Market Regions||October performance|
|MSCI Emerging Markets Europe IMI||2.41%|
|MSCI AC Asia ex Japan||0.87%|
|MSCI Emerging Markets IMI||0.18%|
|MSCI Japan IMI||-3.01%|
|MSCI Emerging Markets Latin America||-7.89%|
|Emerging Market sectors||October performance|