Illustration: Eniola Odetunde/Axios
Foreign investors flocked back to emerging markets in December, data from the Institute of International Finance shows.
What happened: IIF estimates EM stocks and bonds drew $30.7 billion from foreigners in December, a significant increase from the $19.9 billion in November, and the continuation of a recovery from EM's summer slump.
- The primary driver was monetary easing by major EM central banks and the "phase one" U.S.-China trade deal, IIF economists Jonathan Fortun and Benjamin Hilgenstock write in the report.
The big picture: For the full year, emerging markets attracted inflows of more than $310 billion, well above the $194 billion of inflows seen in 2018.