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TIP491: Macro and the Energy Market w/ Lyn Alden
We Study Billionaires - The Investor’s Podcast Network
The Irony of Emerging Markets
Many emerging currencies, including the currencies of Brazil, Mexico and Peru have performed better than the US dollar over the past 12 months or at least this year. But I still want to point out the irony that many emerging markets are forced to be more hawkers when times get tough than the more developed economies. Why is that? Well, because historically they have the weaker currencies. They're the ones that are more prone to currency crisis. And so they have to be hawkish. That means the US gets the luxury usually of easing into a recession and tightening into a stronger economy. There's a lot of emerging markets having to tighten into a weak economy just to defend from a currency crisis.
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