Maker is a 2012 hit single for Olly Murs & Flo Rida.
Like wise, Donald Trump is turning out to be a CLASS A trouble maker for Emerging Markets.
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“We believed that a Trump victory had scope for investors to re-evaluate their EM thesis, and indeed this appears to be what is occurring,” wrote Societe Generale this morning.
Except for Japan, Asian markets fell for a second day, slammed by rising U.S. Treasury yields and fear over Trump’s protectionism.
Hong Kong led the regional decline, with the Hang Seng Index down 1.7%. Indonesia’s Jakarta Index tumbled 2.1%.
The 10-year Treasury yield rose 38 basis points in the past week and 80 basis points from their lows in July.
The 10-year yield was trading at 2.196% this morning. Rising U.S. yields make investing in emerging markets less attractive, and unfortunately, this U.S. bond market sell-off may not have reached its end.
