A Visual Guide To The Strong Dollar-EM- Fed Hike Causality Chain

Listen, emerging markets may be in trouble, ok? You know that because you haven't been living in a cave with no Wi-Fi for the past month. The problem here is that there's a self-feeding dynamic at play with the dollar, fiscal stimulus and the Fed and that dynamic appears to have been supercharged (or at least reinforced) by the move higher in crude and a concurrent deceleration in Eurozone/U.K. growth. We've been over this repeatedly (see here and here), but the gist of it is that the market