Emerging Market Rally Is Coming To A Close: Goldman Sachs

With the MSCI emerging market’s “fair value” currently standing at 830, just 4% above the March 7 close, analysts at Goldman Sachs believe EMs provide limited room for upside from current prices. Caesar Maasry and team observe in their March 8 research report titled “Emerging market rally to March to a slowing drumbeat” that it is quite premature to call the EM trough as fundamentals are still deteriorating, although based on some recent calls this could be a contrarian indicator. Emerging market rally coincides with global macros Maasry and his colleagues largely agree with market participants’ view that the sharp 15% rally…