FW: Global Markets Daily: Pockets of EM Pressure

 

 

Pockets of EM Pressure Global Markets Daily by Saktiandi Supaat FX Research The Brazilian Real was sold yesterday, down -1.1% vs. the USD in a session which saw the outperformance of almost every EM currencies against the greenback. It seems that the real is the next currency deemed vulnerable in the backdrop of rising US rates. This is in spite of the central bank's offer of U$1.5bn extra swap contracts to support the currency. UST 10y yield continued to climb, last seen around 2.98%. Insofar, the EM currencies... Saktiandi Supaat     (65) 6320 1379     saktiandi@maybank.com.sg Fiona Lim     (65) 6320 1374     fionalim@maybank.com.sg Disclaimer This message is intended only for the use of the person to whom it is expressly addressed and may contain information that is confidential and legally privileged. If you are not the intended recipient, you are hereby notified that any use, reliance on, reference to, review, disclosure or copying of the message and the information it contains for any purpose is prohibited. If you have received this message in error, please notify the sender by return e-mail immediately and delete all its contents. If you wish to read Disclaimer in details, please click HERE. To unsubscribe or change preference settings, please click here to contact your representative.