Big Investors Still Bullish On Emerging Markets: SocGen

To say that emerging markets faced a tough year in 2013 would be putting it mildly. The Fed’s mid-year taper announcement and current account deficits roiled emerging market currencies – some lost nearly 20% – and panicked investors rushed for the exits, causing the MSCI index to fall 5% and bond returns to move into negative territory. 2013 was clearly the ‘annus horribilis’ for emerging markets. Looking ahead to 2014, political concerns are likely to take center-stage compared to the fiscal and currency worries that pummeled emerging market equities in 2013. Emerging market countries to hold elections As many as five…