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  • 1 min

Rules of the game in emerging countries: a new element

  • 11 May 2018
  • Philippe Waechter
  • Emerging rates' spread
  • Interest Rates
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In a recent post I mentioned that the improvement in the greenback had an strong impact on emerging countries. Capital outflows and lower emerging currencies were mentioned as a source of concern. We have to add the interest rate spread that is now wider than it used to be. It was almost stable since the beginning of 2017 with an average spread close to 330 bp. This is no longer the case since mid-April with the change in the greenback profile.
Rules of the game are deeply changing for emerging countries even if every country is not hurt in the same way. Rules have changed, then be attentive
spread EM-en.png

Related Topics
  • Emerging rates' spread
  • Interest Rates
On the same topic
  • 3 min

The rules of the game have changed for emerging countries

  • 9 May 2018
  • Emerging Countries

Philippe Waechter

The emerging countries’ environment is dramatically changing. It used to be an easy place to play but it is no longer the case. Stability in developed countries’ monetary policy was…
  • Currency depreciation
  • Emerging Debt
  • Federal Reserve
  • US Dollar
READ
  • 2 min

2 graphs on how the Fed is helping the Euro Area

  • 1 November 2014
  • Emerging Countries

Philippe Waechter

Fed’s decision on Wednesday to keep a strict monetary policy will help the euro area. It will extend the monetary policy divergence between the Fed and the ECB and this…
  • ECB
  • Euro Area
  • Euro depreciation
  • Federal Reserve
  • Growth
READ
  • 7 min

Emerging Countries: A new fragility

  • 28 August 2013
  • Emerging Countries

Philippe Waechter

Since mid-May emerging countries’ situation has changed dramatically. Large capital outflows and currency depreciation have weakened a lot of them. In the second half of August the focus was on…
  • Currency Crisis
  • Current Account Imbalances
  • Emerging
  • Federal Reserve
  • Growth
READ
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