Reuters reported, Turkey and Poland were among the stronger regional performs on Monday as emerging( markets) stocks hit fresh two-week highs in the aftermath of the European Central Bank’s plan last week to buy peripheral euro zone debt.
Emerging( Markets) sovereign debt spreads steadied at 302 bps over US treasuries on Monday just above their tightest levels in 14 months.
In a note to clients SEB analysts said “the announcement of QE3 this week would cement the much more constructive tone for global emerging markets”.
The unique Excel Emerging Europe Fund, which invests directly in Russia and the Russian periphery, has shown strong gains in direct relation the news out of Europe as well as the continuous strong fundamental figures out of the region. The Fund continues to be well positioned to capitalize on any strengthening going forward.
Written by Jack S.