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  • VanEck Blog - Emerging Markets Debt Daily

     Emerging Markets Debt Daily
    Emerging Markets Debt Daily

    Natalia Gurushina, Chief Economist, Emerging Markets Fixed Income Strategy

    The global backdrop for emerging markets remains mixed in the run up to the U.S. Federal Reserve’s meeting. Turkey raises its inflation forecasts, but the market is skeptical about a credible policy response.

    Emerging Markets Debt Daily

    July 28, 2020

    Turkey Reserves – Back to Square One

    by Natalia Gurushina, Chief Economist, Emerging Markets Fixed Income Strategy

    Turkey’s international reserves resumed declining, and are now back to the level before the swap line with Qatar. Brazil’s external adjustment is well underway, improving the fundamental backdrop for the currency.

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    Emerging Markets Debt Daily

    July 27, 2020

    China Rebound – Can’t Ignore Structural Costs

    by Natalia Gurushina, Chief Economist, Emerging Markets Fixed Income Strategy

    China’s industrial profits confirm the deepening recovery, but details raise questions about longer-term structural consequences. Mexico’s June trade balance shows textbook adjustment.

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    Emerging Markets Debt Daily

    July 24, 2020

    Russia – Conservative Surprise

    by Natalia Gurushina, Chief Economist, Emerging Markets Fixed Income Strategy

    Russia opts for a smaller rate cut, but maintains dovish guidance. Mexico’s activity contracts more than expected in May, complicating the policy outlook for the central bank.

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    Emerging Markets Debt Daily

    July 23, 2020

    Turkey Central Bank – Road to Redemption?

    by Natalia Gurushina, Chief Economist, Emerging Markets Fixed Income Strategy

    Turkey stayed on hold for the second month in a row, confirming a more cautious policy stance. South Africa went for a 25bps rate cut, but space for additional easing is shrinking.

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