The opportunities arising from EM rate cuts
James Donald
Central banks in emerging markets are cutting rates as expectations of easier monetary policy in the US give emerging countries more flexibility to stimulate their economies. This could bode well for investors in countries such as Russia given that valuations are already very appealing.
Russian equities trade just under 6x price-to-earnings, which partially reflects the political and sanctions risks. However, equity investors are being partially compensated with one of the highest dividend...
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