This Is How Much Janet Yellen Did For Emerging Markets This Week

We've spent a whole lot of time this week talking about how important it is for EM investors to take a good, hard look at their positions as DM central banks get set to normalize policy. The entire carry bonanza is to a large extent contingent upon accommodative DM central banks. When the liquidity tsunami dries up and when DM yields start to rise, sentiment around EM could sour. Especially if any of the myriad idiosyncratic risks (political or otherwise) get priced in. Throw in an uncertain e