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EM unlikely to be at risk of another ‘Taper Tantrum’ episode
Weekly investor research
22 February 2021
Fears of another ‘Taper Tantrum’ sell-off episode, similar to 2013 due to the ongoing increase in US treasury yields are misplaced. Travel declined by three-quarters during the Chinese New Year in 2021, leading to higher consumption in big cities and faster reopening of manufacturing. Indonesia cut the policy rate by 25bps to 3.5%. South Korean exports rose strongly in the first 20-days of February. President Jair Bolsonaro fired the head of Petrobras in Brazil. In Ecuador, Guillermo Lasso will face Andrez Arauz in the presidential election run-off in April.