Are emerging markets losing their mojo?

If the dollar bottoms out and the ECB, BoE bring in tighter monetary policies, emerging markets could head south

Should investors who have made a fortune this year by investing in Brazil, Vietnam, India and Indonesia think of “rotating” out of these markets, seeking other shores? Well, it’s hard to spot a clear trend yet, but the proverbial tea leaves do advise a degree of caution.
 
Here is some data. After a spectacular rise of 26 per cent in the first eight months of this year, the MSCI emerging markets index (equities) recorded a decline of 0.5 per cent in September. While the deterioration was not substantial, the important point is that it happened after eight straight months