Emerging markets said to see the next bull run as the 'sell U.S.' narrative gains ground
1. Moody's downgrade of U.S. assets boosts emerging market optimism. 2. Emerging markets are up 8.55% year-to-date; S&P 500 only 1%. 3. Bank of America predicts emerging markets to outperform in current cycle. 4. Low investor positioning strengthens appeal of emerging market equities. 5. A weaker U.S. dollar could enhance emerging market performance.