State Street Weekly Research: Home comforts
It's Safety First under State Street's analysis and money is being repatriated to the safe and familiar terrain of fund managers' home markets. In this respect flows and prices are in agreement. The US and UK markets have posted a positive return since the start of July, while emerging markets have slumped by 14% because the US has slashed rates and markets have priced in 100 basis points of easing by the Bank of England in the next 12 months. Jeremy Armitage examines the indicators.
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