Hugh Hendry: “The Storm That Caused Chaos In Markets Will Not Dissipate Anytime Soon”

Saturday, July 27, 2013
By Paul Martin

by Tyler Durden

The storm that caused chaos across financial markets since May should not dissipate any time soon. As such, we retain a short bias towards China and an outright short in EM currencies. If world trade remains weak and local inflation keeps on gaining momentum, the currencies of several EM countries (ex-China) may remain under pressure. Such weakness may be exacerbated by tightening liquidity.

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