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Templeton Emerging Markets Inco Message Board

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  • chiquitbumbalabimbomba chiquitbumbalabimbomba Mar 21, 2003 5:54 PM Flag

    More Indications of Short Covering

    Unless new money starts or has started flowing into mutual funds, the cash levels in mutual funds at the beginning of this rally don't seem to bode well for its continued health..

    There's only so much chasing of each other and chasing prices up in order to not underperform their indexes that mutual funds can do before the cash runs out...combined with trend towards reduced contributions to 401ks, etc..to me this rally has been more of an opportunity to add to fixed income positions in EM bonds and muni bonds at more attractive prices than an opportunity to get back into stocks..

 
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