Strong dollar hangs heavy over emerging markets

A strong US dollar will be the dominant factor in investment positioning for 2016, according to Bank of America Merrill Lynch (BAML)’s monthly fund manager survey. The survey also showed that global managers remained pessimistic about emerging markets, with their weightings near record lows, as they perceived the region to be a value trap with weak earnings outlook. As world markets braced for the first US interest rate rise in almost a decade, BoA-ML asked fund managers what wa…