12:08
Emerging markets edged higher as investors focused on the Trump-Zelensky talks.
On August 18, Jin10 data reported that emerging market assets rose slightly ahead of talks between Trump and Zelensky, with investors focusing on whether there will be signs of progress in the Russia-Ukraine peace protocol. The MSCI Emerging Markets Stock Index briefly rose by 0.6%. Investors remain cautious ahead of the Jackson Hole annual meeting later this week, as Powell’s speech may hint at the possibility of interest rate cuts in September. "The strong performance of risk assets has been remarkable, and valuations are increasingly stretched," wrote a team led by Deutsche Bank analyst Jim Reid in a report. The team led by Mark Haefele, Chief Investment Officer of UBS Global Wealth Management, stated in their report that given the huge gap in negotiating positions and the lack of decisive progress on the battlefield, "we expect the Russia-Ukraine conflict to continue into next year. Any negotiation process will be prolonged due to a lack of trust and the significant gap in objectives, and any protocol may be subject to skepticism."
TRUMP-2.07%