Well, goodbye Summer, and hello Fall...or at least, it should be
-----someone forgot to tell Mother Nature, methinks. This September, Southern Ontario has been way more summery than summer itself.
While it's generally been a poor year for Canadian equities, especially those in the energy sector, emerging markets have enjoyed some of the best year-to-date performance.
However, there's been a reversal of fortune these last couple of weeks
-----the Canadian market, led by energy producers, has risen and emerging markets have fallen. They haven't come close to reversing their year-to-date results, but it's something to track moving forward, especially since conventional wisdom dictates emerging market stocks move in tandem with oil prices.
Although we've seen the overall GDPs of emerging markets become more consumer-based than ever before these last few years, it's important to not paint them in broad strokes and recognizes the difference between these developing countries. Factors that would have a big effect on China, for example, may not do much for South Africa or India.