A fresh mess in US politics will do nothing to take the heat out of surging bond yields, and the ripple effects have clearly spread to Australian equity and currency markets.
Emerging markets have borne the brunt of the US Fed’s battle to tame inflation and the associated tide of risk-off sentiment. There are early signs that the tide may have turned, but are predictions that the worst is behind them wishful thinking as we head into the two most volatile months, h.