Commodity Run Dwarfs Oil Spat as Emerging Markets Set to Win

  • Totem Macro flags ‘generational opportunity’ for some assets
  • Colombia, Mexico, Russia well-placed regardless of oil deal

A gas turbine generator at the Khurais Processing Department in the Khurais oil field in Khurais, Saudi Arabia.

Photographer: Maya Sidiqqui/Bloomberg
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For some of the world’s biggest money managers, the OPEC+ oil-price feud is little more than a sideshow when it comes to emerging markets.