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It is Turkey. The reversal of investors' views of the country's badets from September does not change the economic fundamentals that make Turkey the emerging market most exposed to external shocks, according to Bloomberg Economics. .
his peers after Argentina, well above the central bank's target, and the projected current account deficit is undoubtedly the most important, according to Bloomberg economists, notably Scott Johnson and Ziad Daoud. That said, despite the fact that the lira recovered from the explosive rise of 625 basis points in the central bank rate in September and the country's rapprochement with the United States, it is still 30% lower this year, or that deficit would be reduced in the future.
Behind Turkey lies Argentina, followed by South Africa and Egypt.
While currencies and bonds have held up relatively well this quarter, a series of headwinds could lead to a new liquidation. Everyone wonders if US President Donald Trump and his Chinese counterpart will dilute the trade war between the two countries when they meet this month. Financing Costs in the United States
"Investors should now be more and more selective," said Hannah Anderson, global market strategist at JPMorgan Asset Management in Hong Kong. "Some of the headwinds that dominate the market sentiment still persist."
On the other extreme, Thailand, Russia, and Saudi Arabia are the strongest markets.
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