“EDD” or “ADD”? Look at the emerging markets bond fund ETFs. Do investors suddenly believe that the best trade of the last few years is entering a crisis stage?
Aussie dollar (FXA, quote) sees a major level here to hold at .9350 after losing another 1% last night as Asian currencies bled to new lows (see India) or testing lows of recent trend ( See Korea, Taiwan, Indo).
In Brazil they just conducted a swap operation to try and support t the currency as the Brazilian real moved to 2.16 intra-day lows before the operation.
Fresh lows on the Brazilian Real…
Fresh lows for Aussie dollar (AUD)….
I said it Wednesday when the world was talking about the sky falling; I’d be a buyer of Japan just a bit lower.
Japan’s TSE Mothers Index has been a mother of a trade and we have drawn attention to it in the early signs of cracking for 2 reasons (see emerging money posts Japanese stocks – Lookout below and Update – “Mothers Index”)