Why Foreigners Are Fleeing the World’s Best Stock Rally

Published on May 22, 2026

At first glance, the retreat of foreign asset managers is ominous. Signs of a domestic retail frenzy are everywhere. Cash deposits in local brokerage accounts have reached 137 trillion won ($91 billion), a two-third jump from six months ago.

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Renewable Energy Could Define Winners and Losers in Emerging Markets

May 22, 2026
Emerging markets (EM) are using low-cost renewables to cut fuel imports, stabilize power costs and improve energy security—positioning EM as the growth engine of the energy transition. Countries and companies that leverage their dominance in critical minerals and green technology could pull ahead, creating dispersion in potential outcomes for investors.

The Mag Seven’s Free Cash Flow Withers

May 22, 2026
Stocks’ rally off the March 30 lows has been nothing short of wild, with internal market dynamics showing some performance divergences that we haven’t seen for decades. For example, in the first 6 weeks of the rally, the S&P 500 Growth index beat the S&P 500 Low Volatility Index by more than any other 6-week window on record.