Capital Flows Spotlight
The EM "sudden stop" in March is unparalleled. Non-resident portfolio outflows surpassed anything seen previously, including during the global financial crisis.
However, unprecedented Fed easing, which first lifted US stock and credit markets, is now also making its way into EM. Exchange rates have stabilized, net issuance of bonds abroad is at record strength and – most important – our high frequency tracking now puts non-resident portfolio flows to EM back in positive territory in Q2.
Read more in our GMV report