Did Donald Trump's election cause an emerging Market Recession?
The market’s reaction to Donald Trump selection as President of the United States has gone against most analyst expectations, in developed markets anyway. In emerging markets, the story is completely different. Emerging market currencies have come under heavy selling pressure since the beginning of November and emerging market US dollar bond spreads have widened by around 20 basis points on average across medium and long tenors. Across the emerging market bond universe as a whole, yields have risen by around 60 bps on average.
