The South African rand is now at 45-month lows with a hard sharp move in ZAR in the last hour, which is now -1.25%. Local bonds are being sold off hard.
No longer waiting for Godot? The hottest market in the world over the last year is poised to go higher on upgrades from Moody’s and S&P. Let’s see… Moody’s put Turkey on hold yesterday but the market doesn’t seem to care.
Emerging markets were set for losses of up to 3.0% last Thursday until Federal Reserve Chairman Ben Bernanke saved markets with his comments at Jackson Hole, Wyoming on Friday.
Friday’s best web covers Indian companies seeking access to China, a summary of the Turkish information and consumer technology sector, collapsing tin prices, Essar’s procurement of Colombian oil, and the “toilet of the future.”
Friday’s best web covers Turkey’s effort to privatize state run businesses, Vietnam’s fall from favor, recent data regarding Mexico, and Singapore’s Prime Minister Lee Hsien Loong’s expectation for Indian economic growth.