TREE NEWS reports: On Friday, September 25, the emerging markets ETF closed up 1.09% and the long-yen ETF gained 1.07%, as Japanese officials called the weak exchange rate a problem. The Dow ETF rose 0.94%, the S&P 500 ETF 0.54%, the Nasdaq 100 ETF 0.46% and the gold ETF 0.44%. The US Brent oil fund fell 3.54% and the long-volatility index dropped 1.54%.
Emerging Markets ETF Rises 1.1%, Brent Oil Fund Falls 3.5%
The standout in this session is the divergence between broad risk appetite and energy: equities and emerging markets firmed while the Brent oil fund sold off sharply, suggesting the move was less about growth optimism than about positioning or supply-side sentiment specific to crude. The yen strength alongside Japanese officials flagging the weak exchange rate points to intervention risk as the live variable for carry-linked emerging market flows. Whether the oil weakness persists independently of the equity bid is the open question.
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