Emerging Market Resilience for Week of 7/18/2016

Emerging market stocks and bonds remain resilient.  The prices of both are likely to tolerate negative news and events relatively well in USD terms.

Emerging market stocks, as measured by the MSCI Emerging Markets Index, has an MRI rating of "3," the highest level.

Emerging market bonds, as measured by a popular EM bond mutual fund, also has a MRI rating of "3."

For both, the longer term resilience forces are strong and decidedly so.  I expect these positive resilience ratings to last for several weeks.