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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