The respite enjoyed by emerging markets (EMs) during the first half of July has not lasted. Indeed, net portfolio inflows remained negative over the course of the month as a whole according to EPFR Global. That being said, the picture was mixed at the regional level. While there was continued net selling of bonds and equities by funds dedicated to the dominant Emerging Asia and Latin America regions, there was net buying of equities by funds dedicated to the EMEA region and by global EM funds.
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