This year we have seen a run-on EM market which is unleashing a dangerous dynamic. We have seen EM systems facing global de-risking/deleveraging without a clear Fed and central banking community “put.” Nomura has warned 22 of the 32 countries covered by its in-house “Damocles” warning system have seen their risk rise since its last update since May to the most vulnerable since July 1999 and near the peak at “the height of the Asian crisis”. Seven countries, Egypt, Romania, Sri … Continue reading “Emerging Markets Facing Highest Currency Crisis Risk Since 1999”
The Suez Canal and SUMED pipeline choke points affected oil prices during the Arab Spring when oil prices were over $100 and at a speculators zenith. The two routes account for around nine percent of the world’s daily seaborne oil.