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Emerging markets are now more resilient to US tapering

Location:

INTERNATIONAL

The rise in yields is stirring memories of the 2013 ‘taper tantrum’, which led to a dramatic decline in emerging market (EM) currencies and local bonds, prompting three years of…

Markets are overreacting to US price and rates risks

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UNITED STATES

The continuation of the modest manufacturing downturn follows the recent report of slower third-quarter GDP growth. Despite slower growth, bond markets are challenging an attempt…

The US Treasury market is vulnerable to stress

Location:

INT

The US Treasuries securities market is the world's largest and most liquid financial market, and is relied on by market participants as a basis to price other risks. However, on…

Central European local investors will hold on to bonds

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CENTRAL EUROPE

The lira’s collapse is fuelling outflows from Turkey’s local currency government debt market, as foreign investors reduce their purchases of emerging market (EM) domestic debt…

The ECB will set the speed of global credit tightening

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INTERNATIONAL

The ECB's plan could tip the scales towards tighter credit conditions globally. However, there are concerns about global growth -- particularly in the euro-area -- and government…

Even gradual quantitative tightening raises GDP risks

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INTERNATIONAL

Quantitative easing and GDP.

Italy’s woes expose euro-area governance failures

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EURO-AREA

The political uncertainty in Rome is hampering efforts to restore confidence in MPS and poses a challenge to the implementation of the EU’s controversial ‘bail-in’ rules.

ECB faces multiple challenges in withdrawing stimulus

Location:

EU

ECB policy deliberations.

Central Europe external risks still outweigh internal

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CENTRAL EUROPE

Investors are brushing off mounting political risks in Poland despite an erosion of democratic checks and balances under the nationalist Law and Justice (PiS) government. In…

Market nerves roil Turkey and Central Europe

Location:

EUROPE

Markets have taken badly the Fed's more hawkish policy guidance for 2017, not expecting such a shift in monetary policy so soon. The shift in US monetary policy comes just as the…