Monday, November 8, 2010

Citigroup (NYSE:C) Sees Emerging Markets Skyrocketing in 2011

Citigroup (NYSE:C) said they see emerging markets soaring in 2011, saying shares should surge to record highs.

Geoffrey Dennis, Citigroup’s emerging markets strategist, wrote in a note, “The weak, but not recessionary, macro situation in developed countries is a ‘super-Goldilocks’ environment. The underlying conditions that have driven markets higher over the past few months remain in place and are likely to do so for several more quarters.”

Emerging market expert and investor Mark Mobius concurs. saying he sees little risk in the near future for the sector.

Dennis added that he believes the MSCI Emerging Markets Index will skyrocket over 30 percent sometime in 2011, which would boost it past its all-time high.

The quantitative easing, or inflating by the Federal Reserve by buying billions in government debt is cited as the reason behind this. It's interesting to note that many say the money will flow to where the highest yields are, which isn't the United States.

In the end, commodities will benefit from the ongoing collapse in the value of the U.S. dollar, but over time will have little benefit to the economic health of America, as the former quantitative easing package has already proven.

Some American companies doing business overseas will benefit, but it's unlikely to have much impact on America at all, other than further indebting its people.


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