EMerging Equity
Currency Devaluation
Rationalising China’s Exchange Rate Policy
By Yukon Huang, Carnegie Endowment There are conflicts among the many objectives shaping China’s exchange rate policy. Politically, China’s leaders are keen on having the renminbi become a major international currency. For this purpose, the renminbi needs to be strong and stable enough that others will use it to settle trade balances and as a reserve … Continue reading
Market Meltdown Means More Pain For Oil-Producing Economies
By Zachary Fillingham Supply-side downward price pressure has been the story of global energy prices over the past year: newfound supply from the Shale Revolution, OPEC’s gambit of market-share grabbing inundation, and new supply coming online from Iraq and soon Iran. The result was a plunge in oil prices from $115 in mid-June 2014 to below … Continue reading
How China’s Currency Policies Will Change The World
By Stratfor Global Intelligence The recent fluctuations in China’s currency typify the best and worst of a globalized world, where developments in one place can instantly change the political and financial calculations of governments in others. For most of human history, the communities, cultures and economies of the world existed independently of one another, separated … Continue reading
Emerging Market Rout Deepens With No End In Sight
A rout in emerging market (EM) stocks and currencies has deepened amid a series of devaluation events, oil prices at a six-year low and continuing to plunge amid a global glut, concerns about the U.S. Fed hiking interest rates, and growth concerns in China. Indeed, last week was a rough week for emerging markets: EM currencies … Continue reading
South Korean ETF Weekly Outflow Reaches Most On Record Amid Tensions With North, EM Rout
The largest exchange traded fund (ETF) that tracks South Korean equities, The iShares MSCI South Korea Capped ETF, just saw the largest weekly outflow since its inception back in 2000 as a rout in emerging markets deepens, oil prices continue to fall, concerns about the U.S. Fed hiking interest rates, and as tensions grow in the Korean peninsula between North and South Korea. … Continue reading
What China’s Currency Devaluation Means For Chinese Stability
China’s staggeringly long history reaches back well at least 3,000 years, and possibly more, depending on who’s asked. If any single pattern can be pulled from so much history, it’s this: no Chinese dynasty lasts forever, and when they fall, it’s always catastrophic for China in general. Chinese political thinkers underpin much of their … Continue reading
Kazakhstan’s Currency Falls By A Record 23% As It Shifts To A Free Float
Kazakhstan’s currency fell by a record 23 percent in trade on Thursday after the country abandoned control of its exchange rate, as it became the latest emerging market to scrap efforts to prop up its currency before the U.S. Federal Reserve hikes interest rates. Kazakhstan is shifting to a free float of its currency and will pursue an inflation-targeting monetary … Continue reading
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