Back
6 Sep 2013
Flash: EMFX, VIX, EZ spreads, USD - Societe Generale
FXstreet.com (London) - Kit Juckes, Global Head of Currency Strategy at Societe Generale has EM currencies in focus, with implied and relative markets volatility, including the USD.
Key Quotes:
“Through May and June we saw broad, synchronised weakness in EM currencies and bonds, with a rising VIX and widening credit and peripheral European bond spreads”.
“VIX, Spain/German spreads, the US IG index, the iTraxx crossover and even the EMBI (so far) all peaked in early July and had a good summer but all are coming under a bit of pressure now”.
“In EMFX, the rout paused briefly but continued unto the latter part of August”.
“Some EM currencies have bounced nicely (USD/BRL and USD/ZAR peaked back on August 21 and USD/INR on August 28) but USD IDR hit a new high this morning”.
Key Quotes:
“Through May and June we saw broad, synchronised weakness in EM currencies and bonds, with a rising VIX and widening credit and peripheral European bond spreads”.
“VIX, Spain/German spreads, the US IG index, the iTraxx crossover and even the EMBI (so far) all peaked in early July and had a good summer but all are coming under a bit of pressure now”.
“In EMFX, the rout paused briefly but continued unto the latter part of August”.
“Some EM currencies have bounced nicely (USD/BRL and USD/ZAR peaked back on August 21 and USD/INR on August 28) but USD IDR hit a new high this morning”.