18 Dec 2014
EM developments worth noting - BBH
FXStreet (Guatemala) - Analysts at Brown Brothers Harriman explained that there are some EM developments that are worth mentioning.
Key Quotes:
“Putin at his press conference warned that it could take two years for Russia to recover”.
“RUB is firmer on the day, but remains highly volatile. Putin vowed to guide nation through this latest crisis, but if his prediction about the length of the downturn is correct, support for his current stance will likely erode”.
“Elsewhere, USD is at 6-month highs vs. CNY”.
“There appears to be a liquidity squeeze too, as the 7-day repo is highest since March (at 4.55% vs. the PBOC’s preferred range near 4%)”.
Key Quotes:
“Putin at his press conference warned that it could take two years for Russia to recover”.
“RUB is firmer on the day, but remains highly volatile. Putin vowed to guide nation through this latest crisis, but if his prediction about the length of the downturn is correct, support for his current stance will likely erode”.
“Elsewhere, USD is at 6-month highs vs. CNY”.
“There appears to be a liquidity squeeze too, as the 7-day repo is highest since March (at 4.55% vs. the PBOC’s preferred range near 4%)”.