And other things we learned from John Aruthers
The Bank of America Merrill Lynch poll of global fund managers dates back to before the financial crisis and it's a great source of insight into what's hot and what's not.
Recently the JPMorgan emerging market FX index hit a record low and that dovetails with the sense that it's undervalued.
That insight is from John Authers, who is a great columnist who has moved to Bloomberg from the FT.
His first column is on global valuations and makes a great case that US equity markets a vastly overvalued and will be reeled in over the coming years. Whether that's via US equity declines or a catchup elsewhere is an open question.
Aside from the above tidbit, the column is light on FX but it's easy to extrapolate that that the euro, yen and EM FX are unloved.
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