Many of the factors that challenged EM currencies in 2015 are likely to continue in the year ahead. Emerging Markets are caught between tightening policy rates in the US, a free-fall in commodity prices, which is partially driven by a China slowdown, and heightened idiosyncratic risks.
Abbas AMELI-RENANI, Bastien DRUT
Argentina’s primary elections: Opposition candidate Alberto Fernandez won by largerthan-expected margin against President Macri. At this point, markets price in Fernandez’s victory in October elections.
Abbas AMELI-RENANI, Yerlan SYZDYKOV, Sosi VARTANESYAN