The potential interest rate cuts and better earnings growth for 2024 are tailwinds for emerging markets.
While interest rates are expected to be ‘higher for longer', we believe that they will eventually decline as goods inflation has started declining in most markets, which has led investors to look beyond the current high rates. However, the macro environment remains challenging due to the ongoing conflicts in Ukraine and Gaza, which continue to impact economic activity. William Blair's Todd McClone: Divergent paths between China and India As well as the geopolitical tensions between China and the US which remain elevated, and it is evident that supply chain diversification has begun...
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