Understanding EM Crises

  We recently published a new white paper on EM Crises. In this report, we look at the history of EM crises. How they unfold, and when they become buying opportunities. EM crises have generated some of the largest market sell-offs in the last 25 years. At the same...

Watch Food Prices for Risks to EM

EM CPI inflation is at multi-year lows at present (top chart), with a clear divergence between world food prices and EM CPI. Food tends to be one of the main components of EM inflation baskets, on average accounting for a 30% weighting. A lot of agricultural...

Turkey: A Recipe for Inflation

On a structural basis, Turkey has consistently been one of the most vulnerable economies to a currency crisis in light of considerable external vulnerabilities, and was flagged again in VP’s September thematic update of our debt and currency crisis framework. However,...
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