Week In Review – May 18 | Global Macro Monitor

Omnifarious selling in emerging markets this week and signal global liquidity is tightening up
EM 10-year yields higher across the board from Mexico up 20 bps to Turkey up 125 bps
Euro periphery spreads blow out. Italy 34 bps wider, Greece 49 bps wider
EM currencies hit hard: Argentina peso down another 5 percent, now down almost 20 percent in May; sends government back to the IMF
Turkish lira down over 4 percent
Dollar index up 1.19 percent
France CAC up 1.31 percent
S&P500 down about ½ percent
Russell 2000 making new highs
Grains move higher
Crude continues to march higher
Gold back below $1300