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Bloodbath: Emerging Market Assets Collapse As China Selloff Triggers Panic
zerohedge.com / by Tyler Durden / 08/24/2015 10:17
On Sunday evening, this happened:
- BLOOMBERG COMMODITY INDEX SLIDES TO LOWEST LEVEL SINCE 1999
That’s right, Bloomberg’s commodity index cratered to its lowest level since 1999 or, said differently, the lowest level of the 21st century. That headline flashed just minutes after we highlighted Barclay’s take on the “long, slow, and painful” end of the commodities supercycle which is weighing heavily on emerging markets in the wake of China’s move to devalue the yuan. Here’s how we described the setup on Sunday evening:
Emerging markets will remain in focus this week as the world watches anxiously to see if China’s move to devalue the yuan will ultimately transform an already precarious situation into an outright crisis.Slowing demand from China has been the major concern for commodity exporters and indeed, wide open capital markets (thanks to ultra accommodative monetary policies across the globe) have served to keep struggling producers afloat, perpetuating a global deflationary supply glut.
The post Bloodbath: Emerging Market Assets Collapse As China Selloff Triggers Panic appeared first on Silver For The People.
Source: http://silveristhenew.com/2015/08/24/bloodbath-emerging-market-assets-collapse-as-china-selloff-triggers-panic-2/
