Emerging Markets - Is This a More Durable Rally?

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This was a rally across the board, although it is true that some of those that had sold off most sharply. That is particularly things like certain countries that had been pushed to the brink of debt crises or into debt crises by what's happened in markets this year. But bear in mind that emerging markets like the rest of the world are probably about to face a global recession. Even if you have relief from the interest rate cycle, you then have the fundamentals deteriorating and for companies to make profits at home are going to get worse.

Brussels is pushing EU member states to agree to a $60 ceiling on global purchases of Russian oil and emerging market stocks and bonds are staging a strong rebound. Plus, a push by the UN to tighten corporate rules around net-zero pledges is sending shudders through some boardrooms, and the world’s largest active volcano, Hawaii’s Mauna Loa, erupted this week after lying dormant for nearly 40 years.

Mentioned in this podcast:

Brussels seeks deal on $60 global price cap for Russian oil

Emerging market stocks and bonds stage powerful rebound rally

Get ready for a net zero business backlash

Boon for scientists as world’s biggest active volcano roars back to life

USGS: Mauna Loa eruption

The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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