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Tag Archives: emerging markets

Peter Schiff: The Dollar Is in a Bear Market Rally – It Won’t Last

The US dollar has rallied over the last few weeks. The dollar index closed above 93 on May 8. This represents about a 5% increase from the low this year of just above 88. On the year, the dollar is up about 1%, although it is still off about 6% from its highs in 2016.In his latest podcast, Peter Schiff called this a “bear market rally.”There hasn’t been any good economic news that would explain the strength of the dollar.”In fact, as Peter pointed out in his previous...

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WTF Just Happened to Argentina’s Peso?

Three interest rate hikes in one week, to 40%, imply the first two didn’t work, and the Central Bank is not in control. By Bianca Fernet, Argentina, The Bubble: If you’re watching Argentina’s economy, it hasn’t been a banner week. This week, Argentina had to raise its key interest rate three times to keep the Argentine peso from losing even more value against the dollar. Three interest rate hikes in one week is a lot – it implies the first two didn’t work, and the Central Bank is not...

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Tech Wreck Hits Asia – TATS Turmoil After FANG Flush

While FANGs cratered in US markets, the turmoil in tech stocks has spread to AsiaPac with Hong Kong down hard as TATS tumble to one-month lows at the open... Asia's "FANG"  equivalent - accounting for 16% of MSCI Emerging Market Stock index is TATS - Taiwan Semi, Alibaba, Tecent, and Samsung... All four names are down notably in the last week... Following the biggest tumble in South Korea Industrial Production (and the first rate hike by Bank of Korea in 6 years), it appears there are no...

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So Where Does the Money Go that Mexico Borrows?

Answers emerge. Including offshore private accounts. By Don Quijones, Spain, UK, & Mexico, editor at WOLF STREET. Mexico’s public debt-to-GDP of 50% may seem modest by today’s inflated standards, but when it comes to debt, everything is relative, especially if you don’t enjoy the benefits that come from having a reserve-currency-denominated printing press, and if you borrow in a foreign currency that you don’t control. As the debt load grows, more and more of the States’ financial...

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The US and the World: Wolf Richter on the Keiser Report

“These things can go on for a long time — until they can’t…” Here I am with Max Keiser on the Keiser Report, tackling the global schemes of our crazy times: the shifting economic relationships between the US, its allies, and China whose authorities are trying furiously to keep the precarious bad-debt-burdened financial system from imploding. Enjoy the video… The upside of the control Chinese authorities have over their banking system is fake stability. The downside...

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Inflation Spikes Most since 2008 in Mexico. Bad Timing

Before the Elections and despite Bank of Mexico’s “monetary shock.” Inflation is a touchy topic in Mexico where wages are tight and not growing fast enough. Inflation is spiking. And consumers, trying stretch ever further just to keep up, are not happy. Consumer prices, as measured by the national consumer price index, soared 6.44% in July compared to a year ago, according to Mexico’s statistics agency INEGI. It was the sharpest annual inflation rate increase since December 2008,...

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Argentina (!) Sells 100-Year Dollar-Denominated Junk Bonds

Yield-desperate investors stop before nothing. What have central banks wrought? Junk-rated, deficit-plagued, inflation-whacked Argentina just sold $2.75 billion of 100-year dollar-denominated bonds. This was the first time ever that a junk-rated country was able to sell 100-year bonds denominated in a foreign currency, or any currency. Argentina sports a “B” credit rating from Standard & Poor’s. Five notches below investment grade. Deep junk. And 100 years is a very, very long time...

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Emerging Markets Are Not All Created Equal

For most investors, targeting foreign countries where there are high expectations for growth is a useful strategy. After all, in the United States, Canada, and Europe, economies are mostly growing at about 2% or less per year. And while these developed markets are less risky to invest in, finding value can be tricky. That’s why, as VisualCapitalist's Jeff Desjardoins notes, for many decades, investors have been allured by the fast growth of far-off economies. In the 1950s and 1960s, Japan’s...

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Goldman Sachs Accused of “Aiding and Abetting” Venezuela’s “Dictatorial Regime”

A very risky deal with a huge yield. It didn’t take long for sparks to fly after the Wall Street Journal reported on Sunday that, “according to five people familiar with the transaction,” the asset management division of Goldman Sachs had bought Venezuelan bonds with a face value of $2.8 billion from the Central Bank of Venezuela that it had held as part of its international reserves. The sale of the bonds – issued by state-owned oil company Petróleos de Venezuela S.A. (PDVSA) in 2014...

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Déjà Vu In The USD Bull Market?

By Chris at www.CapitalistExploits.at What in God's name is happening? It's not a high. It's a record high. Sweet mother of Mary... As we can see from the above chart courtesy of the FT, emerging markets sold a record amount of government debt in the first quarter of this year. More from the FT here: "Data from Dealogic, a research firm, show that sovereign bond sales from emerging markets rose to $69.6bn in the first three months of the year, an increase of 48 per cent from...

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