Analysts at Brown Brothers Harriman explained that EM ended last week under pressure. Key Quotes:"With two potentially disruptive events (FOMC meeting and Brexit vote) still in play, we think that EM softness should carry over into this week. Markets remain jittery about the June 23 Brexit vote, as a vote to leave would be very negative for risk assets such as EM. No action is expected at the FOMC meeting Wednesday. However, we think July remains very much in play and the FOMC statement should help keep that notion alive. China reports May IP, retail sales, and fixed asset investment Monday. IP is expected to rise 6.0% y/y, while retail sales are expected to rise 10.1% y/y. MSCI is expected to announce Tuesday whether China A-shares will be included in its indexes, and it will be a close call."