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EM by EM #24 Tightening the noose on EM

Oil prices have collapsed in recent days undermining one side of the USD/Oil wreckingball. Good news for EM's generally? We offer our takeaway below and how we prefer to play it
2023-10-05

This week’s standout story has undeniably been the startling EIA report from the US. Unless we receive a substantial revision or information that undermines the bleak picture -the unfortunate reality is probably that US consumers are, regrettably, capitulating.

Chart 1. US Gasoline Implied demand vs EIA stock

Oil prices have collapsed in recent days undermining one side of the USD/Oil wreckingball. Good news for EM’s generally? We offer our takeaway below and how we prefer to play it

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