Emerging Markets: What has Changed

This is what has changed in the EM space, in our view: 1) Thailand:  Officials are stepping up action and rhetoric against THB appreciation 2) India: We are becoming more optimistic that the INR will finally start to recover 3) Mexico: Banxico is sounding dovish again, but caution is needed in interpreting comments 4) Indonesia: […]

Emerging Markets: What Has Changed?

This is what has changed in the EM space, in our view: 1) Brazil is hiking, but reluctantly 2) Turkey is cutting, and resolutely 3) China will further relax the FX trading band 4) Philippines will further relax FX trading limits 5) Korea announces a big stimulus package 6) Colombia announces a medium stimulus package […]