Chart of the day: Emerging Market Currencies and Local Currency Debt

By Marc Chandler

This Great Graphic was posted by Katie Martin of Dow Jones, which she picked up from Barclay’s and was later posted by Gokkhan Kula’s from Myra Capital.

The X-axis is the change in the spot currencies against the dollar since late May. The Y-axis is the  change in the local 5-year debt.

It is a useful way to conceptualize what has happened from a total return perspective. Korea, Czech, Romania,  and China appear to have weathered the storm, thus far.

em and fx

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