Foreign Tour ✈️
From Fragile Five to Troubled Trio
Eight years ago, when the taper tantrum roiled emerging markets, the so-called Fragile Five of Turkey, Brazil, South Africa, India and Indonesia suffered the most. Last week, another sharp spike in US bond yields has threatened to wreak havoc on at least three of those nations.
While India and Indonesia seem to be in a better position than in 2013, The Turkish lira, Brazilian real and South African rand are still seen to be at major risk. These 3 were the worst performing currencies last week as high interest rates in the US pulled the Dollar higher.