Ending Penny Production
President Donald Trump directed the Treasury Department to cease minting pennies. The penny has been circulating for 233 years, first established in 1792. Trump has been against the creation of [...]
QUESTION: Mr. Armstrong; Just to clarify, a continued rate hike in dollars will send Emerging Market debt into chaos and possibly default. Is this both public and private?
Thank you.
You are a voice in the wilderness
PK
ANSWER: Oh yes. Both public and private emerging market debt raised money in dollars. A 2% increase in interest rates could spark a sharp rise in the proportion of emerging market corporate debt issues at risk of default. This is true especially in Brazil, Turkey, and India.