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Expand chart
Data: Haver and IIF; Chart: Axios Visuals

Investors look to have rekindled their love affair with emerging markets in the first 2 months of the year.

What's happening: The dovish shift from the Fed and global central banks, and de-escalating China-U.S. trade tensions are bringing investors back to the asset class after a rough 2018 performance.

What they're saying: "These events look likely to restart a Wall of Money to EM and our high frequency flow trackers are picking up a sharp spike," Jonathan Fortun, an economist, and Tariq Khan, a researcher, at the Institute of International Finance, said of the organization's recent findings.

Details: EM securities attracted $26.3 billion of foreign capital in February.

After 5 consecutive months of outflows, IIF analysts estimate that net capital flows, including banking and foreign direct investment, to emerging markets was $20.9 billion in January.

  • In particular, large flows into South Africa ($16.4 billion) and India ($13.3 billion) were behind the surge in overall inflows.

Go deeper: Dove vs. More Dovish: Fed minutes reveal uncertainty on rate hikes

Go deeper

Scoop: Trump talked out of early Ohio endorsement

Jane Timken at a 2017 Trump rally. Photo: Kyle Mazza/NurPhoto via Getty Images

Donald Trump had to be talked out of making an early endorsement in Ohio's 2022 U.S. Senate race, a sign of his eagerness to reengage politically, people familiar with the conversations tell Axios.

What we're hearing: The former president discussed endorsing former state GOP chair Jane Timken last week during a meeting at Mar-a-Lago with RNC Chairwoman Ronna McDaniel, but top advisers — including Donald Trump Jr. — urged him to wait.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Health: Trump received COVID vaccine at White House in January — CDC director warns "now is not the time" to lift COVID restrictions.
  2. Education: More schools are reopening in the U.S.
  3. Vaccine: J&J CEO "absolutely" confident in vaccine distribution goals Most states aren't prioritizing prisons for COVID vaccines — Vaccine hesitancy is shrinking.
  4. Economy: Apple says all U.S. stores open for the first time since start of pandemic — What's really going on with the labor market.
  5. Sports: Poll weighs impact of athlete vaccination.
  6. World: Latin America turns to China and Russia for COVID-19 vaccines.
Dave Lawler, author of World
1 hour ago - World

Latin America turns to China and Russia for COVID-19 vaccines

Several countries in the Americas have received their first vaccine shipments over the past few weeks — not from the regional superpower or from Western pharmaceutical giants, but from China, Russia, and in some cases India.

Why it matters: North and South America have been battered by the pandemic and recorded several of the world’s highest death tolls. Few countries other than the U.S. have the capacity to manufacture vaccines at scale, and most lack the resources to buy their way to the front of the line for imports. That’s led to a scramble for whatever supply is available.