America's borrowing cost just hit a 20-year high, and emerging markets are paying for it.
On 24 Sep the US 30-year yield touched 5.53% and the 10-year 5.22%, the highest since 2007. Markets see a 71% chance the Fed hikes in October.
With 5% risk-free in dollars, big money leaves risky markets first. Foreigners have pulled almost $31B out of Indian stocks this year, and a dollar buys about 96 rupees.
$BTC is stuck near $84K too.
Do you watch bond yields?
Not financial advice.
On 24 Sep the US 30-year yield touched 5.53% and the 10-year 5.22%, the highest since 2007. Markets see a 71% chance the Fed hikes in October.
With 5% risk-free in dollars, big money leaves risky markets first. Foreigners have pulled almost $31B out of Indian stocks this year, and a dollar buys about 96 rupees.
$BTC is stuck near $84K too.
Do you watch bond yields?
Not financial advice.