On Wednesday, March 17 we were delighted to host our latest Global Macro Call. Robin Brooks, Managing Director and Chief Economist, talked about rising longer-term US yields, their implications for the FOMC meeting later that day and fall-out for EM capital flows. Sergi Lanau, Deputy Chief Economist, discussed fiscal vulnerability in EM, focusing on high-risk cases with large financing needs. Ugras Ulku, Head of EM Europe Research, discussed his views on the likely direction of economic policy in Turkey, in the context of persistent uncertainty.