Reaching For Yield On The Frontier 2
Frontier markets volatility and reliance on USD financing makes them risky investments; investors flocking to them shows how desperate they are for yield.
Reaching For Yield On The Frontier 1
What do Tanzania, Uzbekistan, and Sri Lanka have in common? At first glance, nothing, but their bonds are gaining popularity among investors reaching for yield.
An EM Debt Crisis Is Really A Dollar Crisis 4
USD shortages can quickly morph into global economic crises, like in 2008 and 2020. But authorities keep prescribing policies that undermine more than help.
An EM Debt Crisis Is Really A Dollar Crisis 3
Do trillions in fiscal stimulus and central bank QE mean that the head of the IMF’s concerns about a potential EM debt crisis will not come to pass?
An EM Debt Crisis Is Really A Dollar Crisis 2
How would an EM collapse come about? Mainstream narratives blame capital outflows due to political upheaval, or a fall in creditworthiness – hence higher rates.
An EM Debt Crisis Is Really A Dollar Crisis 1
The head of the IMF is concerned about higher interest rates tightening financial conditions in emerging markets and causing a debt crisis. It isn’t so simple.
USD Bonds Fly Off The Shelves in Asia!
Asian companies and sovereigns are raising USD funding at a rapid pace. Perhaps the rush to get USDs while the getting is good should give us all some pause?
