The Daily Shot

By SoberLook


We begin with emerging markets where currencies, bonds, and equities are moving higher.

1. The Brazilian real continues to strengthen.

Source:    (chart shows US dollar weakening against the real).

Brazil’s inflation remains stubbornly high (above consensus) despite weak domestic demand.


2. The South African rand is up some 8% over the past few days.

Source:  (chart shows US dollar weakening against the rand).

South Africa had its first year-over-year GDP contraction since 2009. Growth is expected to remain tepid.

3. South Korea unexpectedly cut the benchmark rate to record low. Korea’s central bank is concerned about the deleveraging taking place in the corporate sector hurting economic growth.

Continue reading at TalkMarkets →

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