Emerging Markets See $43 Billion Inflow in November Amid Hope of Policy Pivot
• Foreign investors poured $43.4 billion into emerging markets (EM) debt and stock portfolios in November, the largest net amount since January • Inflows driven by expectations that developed market monetary policy tightening is peaking and rates will fall globally • EM local debt returns gaining momentum, with the asset class poised for its best performance since 2019 • Equity inflows $14.8 billion in November following three months of outflows • China saw a $4.3 billion debt outflow in November, marking 9 straight monthly outflows in 2022 and bifurcation between China and rest of EM