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”
Swine flu has reeked havoc on pork supplies around the world and has hit China very hard and has now spread to ten European countries. Chinese food prices in July jumped 9.1% consumer staples pork prices up 27% fresh and fruit prices up 39.1% from a year ago.