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Major Wall Street firm worries about surprise Fed rate hike, says biggest market gains are overseas

The finest investment opportunities may be thousands of miles away, according to a major Wall Street firm.

According to Emons, investors will get a fatter bang for their buck in the United Kingdom, where Brexit risks are creating jitters and pressuring the market. The land’s benchmark FTSE 100 is about flat over the past year.

“There is so much uncertainty around this Brexit, that I entertain the idea it has now come together that the extension being pushed out further in the future,” added Emons. “This is an opportunity where the U.K. make available has upside, relative to Europe and to U.S. because of the uncertainty of Brexit now disappearing.”

For investors who have a larger risk tolerance, he communicated he sees China and smaller Asian economies such as [South] Korea and Malaysia posting big gains. In fact, he showed confidence that the U.S.-China trade war will have a favorable resolution.

“For example, [South] Korea. It’s very supersensitive to the global trade. That’s a pretty undervalued market now, and that’s where the turn is happening,” Emons said. “Those trade ins have lagged in value to the other markets.”

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