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Changing of the guard in Malaysia

Weekly investor research

14 May 2018

In a continuation of trends observed in many other Emerging Markets countries, Malaysian voters last week ousted a Prime Minister widely perceived to have been corrupt. Argentina’s government responded to the currency crisis in the best possible way by raising rates, introducing fiscal measures, passing a capital markets reform and approaching the IMF. In Brazil, Barbosa’s withdrawal from the election race increases the odds of a market friendly election outcome. Ecuador’s President Lenin Moreno shakes up his Cabinet to replenish his capital as he enters the second year of his term in office. Mexican inflation declined meaningfully and the central bank hiked the policy rate in the Philippines. The global backdrop improved from an EM perspective as EURUSD stabilises despite the US withdrawal from the Iran nuclear treaty.

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