Emerging Markets

1) Hong Kong indicated it would lift the CNY20k limit for daily currency limit for Hong Kong residents 2) Moody's upgraded the outlook on Hungary’s Ba1 rating from negative to stable 3) South African politics are heating up 4) Moody's downgraded South Africa...

Emerging market assets, in general, are lacking a defined direction. The fall in commodity prices seems to be stabilizing, for now at least, but the impact of the large level shift is still to be felt globally. Meanwhile, the dollar...

1) The won-yen story is back after Vice Finance Minister Hwan stated that authorities will manage won moves in line with the yen2) Poland unexpectedly paused its easing cycle; separately, Poland wants to reduce the size of its Monetary Policy...

Overall, the investment climate for EM is likely to remain negative in this strong dollar environment.  A weaker than expected official China PMI over the weekend didn't help matters. Indeed, most of the Asian PMI readings out already came in...

1) Indonesian Finance Minister Bambang Brodjonegoro said the government will probably raise subsidized fuel prices before year-end 2) Dilma Rousseff was re-elected as President of Brazil 3) Brazil’s central bank delivered a hawkish surprise too on Wednesday, hiking rates by 25 bp...

Global risk-off sentiment and the reelection of Dilma Rousseff as the Brazilian president is setting EM off on the back foot to start the week. However, the lack of large moves in the dollar could mean that negative sentiment will...

1) India’s equity index continues to outperform following Prime Minister Modi’s decision to end fuel subsidies on diesel 2) On Friday, Moody's cut Russia by a notch to Baa2 and kept the outlook at negative 3) Russian state oil company Rosneft is...

Emerging market assets have started off the week mixed, with few clear signals to follow. The major currencies also appear directionless at the moment; though eurozone flash PMIs on Thursday could help put the spotlight back on weakness there.As long...

1) OPEC members have started a price war even as their oil output climbed to the highest level in over a year2) Recent inflation data out of India came as a much welcomed relief, and a fuel subsidy reduction is...

A better mood in equity markets and a softer dollar at the start of the week gives us some hope for a bounce in EM assets, even if short lived. While the focus remains on major markets for now, several...

(1) The second round of the Brazilian elections is off to an exciting start(2) The situation in Turkey is becoming tenser as ISIS advances on Kurdish towns in Syria near border(3) The ruble continues to push through all-time highs(4) The...

EM assets are starting the week on the front foot under the favorable constellation of a weaker dollar, stronger stocks and the unexpected result of the presidential elections in Brazil.  In addition, after nearly a month of losses (MSCI EM...

1) USD/HKD traded at its highest level since May 2012.2) Russian officials confirm that capital controls are not on the cards.3) The Turkish central bank started to push bank against currency weakness – albeit slightly.4) Dilma’s chances of re-elections increased...

The visit of Chinese President Xi Jinping to India this week, so early in the term of India’s new Prime Minister, Narendra Modi, underlines the growing strategic weight of the relationship between the two countries. Modi’s prime ministership, with its...

Since the 2008 financial crisis, both China and India have taken steps to become more financially open. But while the Indian economy appears to be ahead at present, policy continues to segment onshore and offshore markets in both economies and...