Back With Some Links Related to Latest Posts…
I am back from another small break to blogging. I have a huge backlog, which I will take care of tonight and tomorrow, but before that, I just wanted to share some reading related to the latest guest post and last Monday’s Daily News column, which was posted here as well.
Starting with the guest post, FT’s beyondbrics takes on who among EMs is winning the currency wars, on which Credit Writedowns has a thing or two to say. I should say I don’t really get the FT’s methodology; I would have rather looked at the change in exports or better still the change in the market share of exports. There would have been omitted variable bias, but that would tell you who has been able to increase their exports while their currency is depreciating.
As for my own column, there were several interesting pieces in the FT about EMs’ relative underperformance right around the time my own piece was published. One is a news article on the EMs’ underperformance, while another ties to underperformance to funds pulling back from EMs, which was one of my central themes as well. Another argues this is not new; EMs have always been a high-beta play- meaning they perform well when markets are up, but really badly when they are down.
That’s all folks, at least for now. I will be back in a few hours to post last week’s guest column, along with my wonderful comments of course…
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