海外研报

Cheatsheet - G10 & EM Week Ahead_ Say cheese

NOT A PRODUCT OF CITI RESEARCH – THIS IS MARKET COMMENTARY INTENDED FOR INSTITUTIONAL

BofA Hartnett Flow Show - Top of the world

Scores on the Doors: gold 28.9%, crypto 24.6%, stocks 18.8%, HY bonds 8.5%, IG 5.4%, cash 4.0%, commodities 2.3%, govt bonds 1.9%,

GS--S. Africa vs. EMXC; Korea vs. Brazil

n Performance: MSCI EM rallied 6% w/w (vs. ACWI up

GS--Turnover/margin buying spiked; Introducing EM positioning baskets

EM Asian ex-China region saw buying (+US$2.5bn) this