Flows out of emerging market funds continue to surge, hitting $5.45B last week, the third highest amount in 3 years. The outflows are high enough that it has triggered a contrarian buy EM/sell DM trade signal from Citi's analysts.
The ECRI's Weekly Leading Index stumbles after recent gains, slipping to 129.5 from 130.2. Annualized growth rose to 4.9% - highest since last May - from a revised 4.6%.