`Sell in May’ Mantra Looks Set to Continue in Emerging Markets
- China’s experience implies caution for risk in EM: BofA
- Mexico expected to cut rates, while Egypt may stay on hold
A resident at a food aid distribution point in Finetown, south of Johannesburg.
Photographer: Waldo Swiegers/BloombergThis article is for subscribers only.
If the first week of the month is anything to go by, the sell-in-May mantra looks set to continue in emerging markets.
Despite optimism that the U.S.-China trade-war truce will broadly hold, last week was a losing one for both stocks and currencies, while local bonds were little changed. And the list of uncertainties in the week ahead is likely to ensure caution remains in the driving seat.