China sports groups Anta, Xtep ride international brands to revenue gains https://trib.al/MjJsBGl
The dollar is below 100 on the index, down nearly 5% over twelve months. Textbook says this boosts emerging markets.
But emerging market ETFs are down sharply. The Kospi just fell 3% in a session. That correlation isn't working.
Why? US Treasury yields are pulling capital home regardless of dollar direction. A weak dollar can't beat 4.35% in the world's safest bond market.
When reliable correlations break down like this, what usually follows?
globalmarkets