The emerging market crisis follows a very familiar pattern. In times of high liquidity cycle (while the Fed is easing), the money supply is abundant and reaches far-away shores to seduce the usual EM suspects to go for an overdrive on consumption-driven growth with borrowed capital.
Oil Price Today (November 13): Brent crude climbs above $95 after fresh Middle East attacks; Trump says no need for deal
While oil prices have dropped from their multi decade highs which they hit earlier this year, analysts remain cautious amid the seesaw political game in