Amid Nightmare Quarter, Here’s The ‘Severe Bear Case’ For Emerging Market Outflows

It's been tough times for emerging markets of late thanks to a variety of factors that have conspired to create something akin to a perfect storm. You've got i) the threat of a trade war weighing on the outlook for global growth, ii) that same trade war threat pushing China towards a devaluation of the yuan, iii) the winding down of DM QE reversing the mad scramble down the quality ladder that heretofore kept a bid under risky assets, iv) rising volatility in EM FX undercutting the viability of