Liquidity conditions in emerging market economies are at their strongest in five years, partially unwinding the steepest slump since the 1980s, according to CrossBorder Capital, a London-based financial research company.
The level of liquidity is a leading indicator for economic growth and financial market returns, says Michael Howell, managing director of CrossBorder Capital.
“Normally liquidity leads the foreign exchange and fixed income markets by three to six months, equities by six to nine months and the real economy by 12-15 months,” Mr Howell says. “It drives economies.”
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