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Tag Archives: emerging markets
The Gathering Storm In The Treasury Market
The Gathering Storm In The Treasury Market Summary Our analysis provides kind of a Grand Unified Theory (GUT) of what is currently taking place in global financial markets The massive borrowing by the U.S. Treasury is crowding out emerging markets capital flows The structural factors that have kept long-term interest rates low and term premia repressed are fading […]
Good Times…
Good Times… My son wanted to know why it is that Venezuela (a topic that gets discussed around the dinner table at home) chose such painfully, obviously asinine policies. After much thought I explained it thus. Hard times create strong men. Strong men create good times. Good times create weak men. Weak men create hard […]
From Buenos Aires To Nashville: The Emerging Market Crisis Spreads From Periphery To Core
From Buenos Aires To Nashville: The Emerging Market Crisis Spreads From Periphery To Core This is the last emerging market crisis story for a while, promise. But one angle – exactly how a plunging currency in a far-off place affects supposedly stable markets like the US – is worth exploring because it’s happening right this […]
Emerging Market Debt Crisis – A Reality Check
Emerging Market Debt Crisis – A Reality Check QUESTION: Hello Martin … I follow emerging markets closely and one thing I note is that the size of the sovereign forex-denominated debt burdens are quite small relative to GDP except in the case of Argentina (48%). Everybody else, including Turkey and Indonesia) is 11% or less. […]
Major Currencies All Over The World Are In “Complete Meltdown” As The $63 Trillion EM Debt Bubble Implodes
Major Currencies All Over The World Are In “Complete Meltdown” As The $63 Trillion EM Debt Bubble Implodes The wait for the next global financial crisis is over. Major currencies all over the planet are in a “death spiral”, many global stock markets are crashing, and economic activity is beginning to decline at a stunning […]
Don’t Cry for Me Argentina – It’s a Global Debt Crisis
Don’t Cry for Me Argentina – It’s a Global Debt Crisis QUESTION: Mr. Armstrong; Our government here in Argentina has told us we should expect more poverty and there is no hope for the future. Socrates has been amazing on its forecasts on our currency. There are enough of us down here who would sincerely […]
“It Will Get A Lot Worse”: Global Stocks Tumble As EM Contagion Roils Markets
“It Will Get A Lot Worse”: Global Stocks Tumble As EM Contagion Roils Markets Global stocks tumbled on Wednesday, as a drop in European markets followed a broad sell-off across Asia, as rising pressure on emerging markets intensified concerns of contagion and spillover into developed markets, leading to a sea of red in world stocks. […]
The Global Financial System Is Unraveling, And No, the U.S. Is Not immune
The Global Financial System Is Unraveling, And No, the U.S. Is Not immune Currencies don’t melt down randomly. This is only the first stage of a complete re-ordering of the global financial system. Take a look at the Shanghai Stock Market (China) and tell me what you see: A complete meltdown, right? More specifically, a […]
Peso, Rand Plummet As Emerging Market Crisis Deepens
Peso, Rand Plummet As Emerging Market Crisis Deepens The EM contagion is slamming currencies around the globe, and while the Turkish Lira remains relatively immune for the time being, traders are now focusing their attention on the South African rand and the Argentine peso, both of which are in freefall this morning. The ZAR has […]
The First Global Domino Tips
The First Global Domino Tips It’s hard to believe it was only about three months ago. Time flies when disaster unfolds all around you. In early June, Brazil’s central bank arranged a press conference where its President Ilan Goldfajn would set everyone straight. The currency was falling, he admitted, but it would be easily handled […]
“Expect More Pain”: As EM Contagion Goes Global, Wall Street Sees No Way Out
“Expect More Pain”: As EM Contagion Goes Global, Wall Street Sees No Way Out With Trump set to announce another $200BN in Chinese tariffs as soon as Thursday, sparking fears of a more acute phase of global trade wars and sending the dollar higher and US equity futures lower, the emerging market contagion vortex is […]
Emerging Market Contagion Threatens Oil Market
Emerging Market Contagion Threatens Oil Market The emerging market currency crisis is not over yet, and could yet morph into a broader contagion that threatens to drag down oil demand. Last week, Argentina’s peso fell by around 20 percent in just a few days, taking year-to-date losses over 50 percent. The central bank frantically hiked […]
EM Rout Returns As Global Stocks Fade, Dollar Surges
EM Rout Returns As Global Stocks Fade, Dollar Surges With the US returning from holiday, US equity futures are flat from Friday’s close, while stocks in Europe slumped, reversing an early gain as Italian and Spanish bank shares faded and the major London, Frankfurt and Paris bourses faltered; this followed a mirror image in Asian price […]
Russell Napier: “The IMF Is About To Send A Profound Shudder Through A Generation Of Investors”
Russell Napier: “The IMF Is About To Send A Profound Shudder Through A Generation Of Investors” Bringing Up The Bodies in Emerging Markets ‘The order goes to The Tower, “Bring up the bodies.”’ — Bring Up The Bodies, Hilary Mantell (The Forth Estate, Jan 2015) For many investors the meltdown in emerging market exchange rates […]
