SocGen: This Is The “Real Test For The Party Mood”

“Whether the Fed is raising rates too fast given their inflation mandate or not, they are raising them too slowly to contain asset price inflation. And while the FX market was getting a bit nervous, with falls for the RUB, ZAR and the TRY yesterday, the emerging bond market community was getting excited about 100-year, dollar -denominated debt issued by Argentina.”

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