Jim Cramer famously says, “there’s a bull market somewhere” but it now looks he may struggle trying to find one. Year to date, MSCI Frontier markets are down 17 percent (in dollar terms), MSCI Emerging markets, 21.5 percent, MSCI World Index, 14.6 percent and MSCI Kenya Index, 22 percent.
Main cause? Global inflation. It’s obvious this is now the central macro issue the world over. In Kenya, the consumer price index (CPI) data for the month of September will be out today.
