‘Say Hello To My Little Friend!’ Argentina Hikes Key Rate To Cartoonish 60% As Peso Breaches 40
Spoiler alert: It probably won’t work.
Spoiler alert: It probably won’t work.
That wasn’t what the market wanted to hear.
In the wake of Javier Milei’s landmark election in Argentina, focus has turned to his
“I prefer to be cautious and not regret it later”.
And the crisis worsens.
Risk-off from start to finish.
“All the pollsters have failed”.
“We ask those who have more capacity to contribute.”
“They had to do something”.
Take a second to skim this, as it’s pretty important, especially in light of recent events.
Do note that this is no trivial/esoteric/academic debate.
Anyone want to try and predict what comes next here?
ARGENTINA CENTRAL BANK RAISES KEY 7-DAY REPO RATE TO 40.00%
Sifting through big bank results is a largely thankless task but, unfortunately, it’s obligatory. JPMorgan’s
Let’s be upfront about one thing: Brash politicians peddling quick fixes to intractable domestic problems,
The sooner the better.
“The plunge in EM asset values and localized crises (Turkey, Argentina) are not unconnected.”
“And in the case of the US, low rates seem to assume unending demand for US Treasuries given the US dollar’s role as the global reserve currency.”
After a pivotal week, where to?
“There are many risks out there.”
Things have taken a decisive turn for the worst in emerging markets after a brief, mid-August reprieve.
Hint: not retail investors.
A full docket.
The pain was widespread.
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