EM On The Brink: Rates, Oil, And Vol Collide At A Must-Hold Level
EM on the brink
Pressure is building fast in EM, and key levels are now being tested. Three macro forces are now aligned against EM. Oil, rates, and volatility are all moving in the same direction, while “forgotten” macro relationships snap back into focus. With positioning stressed and VXEEM surging toward panic levels, this is a must-hold moment for EM.