Summer sell-off: is it EM history repeating?
EM investors are nervous at the prospect of history repeating itself and the end of this year playing out similarly to 2018, when Argentina and Turkey crises set light to a widespread fire sale across most of the asset class.
EM currencies have been falling since the weekend since a comprehensive victory for leftwing populist Alberto Fernandez in Sunday’s primary election. The Turkish lira and most in Latin America were down by more than 1% against the dollar on Monday, while the Argentine peso fell more than 20%,
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