FED is pausing but EM’s are already fed up and the dynamics of the 2022-trade remains our frame of guidance. But what could turn the table?
![EM by EM #22 The Good, the bad and the ugly](https://stenoresearch.com/wp-content/uploads/2023/04/Skaermbillede_2023-03-27_kl._12.44.24-1080x675.png)
FED is pausing but EM’s are already fed up and the dynamics of the 2022-trade remains our frame of guidance. But what could turn the table?