Which Global Markets Soared By Double-Digit Percentages Last Week?
September has a reputation as the worst month of the year for stock markets. Throw in the uncertainty surrounding Syria, still anemic U.S. employment numbers and the threat of the Fed’s tapering of bond purchases on Sept. 18 hanging like a Sword of Damocles over investors’ heads, and this September was destined to be next in a long line of poor-performing months.
Yet much to everyone’s surprise, long-suffering global stock markets have taken off like a rocket. Asian markets closed at three-month highs overnight. The MSCI Emerging Markets Index has rallied an eye-popping 7.86% since the start of the month. And four global stock markets have rallied 10% or more just over the past five trading days. A handful of others, including Russia, China and Turkey, just failed to make the cut of double-digit percentage gainers.
Looking at the fundamentals of these economies — well, it’s hard not to call each of these markets a serious contrarian bet.
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