So...What's Upwardly Amongst Emerging Markets?
"It's a F**king Bloodbath"
And I am outta here.Via ZeroHedge
"It's a F**king Bloodbath" - Emerging Markets Collapse As Turkey Tantrum Spread
Throughout July, many sell-side analysts saw the 'stability' inwards EM assets equally a sign that the worst was over in addition to urged investors to pile dorsum inwards to stimulate got wages of 'blood on the streets' inwards EM at these inexpensive levels.
But, equally 1 veteran EM trader inwards Brazil exclaimed to us this morning "this is a fucking bloodbath," adding that "liquidity has disappeared" and equally spooked retail investors pile out of ETFs (that their advisers said were no brainers), the pressure level inwards existent markets is explosive.
Emerging Market FX is indeed a bloodbath...
While Turkey's Lira is the biggest loser on the calendar week (and day), no affair where y'all look, it's carnage...
The moves are massive merely dwarved past times Lira...
...MORE
It's starting to await similar a neo-Gramscian March Through the Institutions merely amongst to a greater extent than stomping around.
Recently:
Grantham Mayo Van Otterloo Quarterly Letter: Q2 2018
Emerging Markets—No Reward Without Risk...
EM, Cash May Be Best Spots for the Next vii Years, Says GMO
See also:
Feb 2010
"Grantham’s ‘Horrifically Early’ Calls Challenge GMO"
Finally:
"Energing marketplace speculation tends to appear at a juncture inwards the economical wheel when
declining yields on domestic bonds combine amongst an excess of uppercase to make
foreign investments especially attractive."
-Edward Chancellor
Chapter 4, Fool's Gold: The Emerging Markets of the 1820's
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