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The worm turns

Weekly investor research

19 June 2017

The central banks in UK and US surprised on the hawkish side, but underlying fundamentals in both countries suggest the fears of draconian tightening are grossly misplaced. New US sanctions against Russia will mainly hurt President Trump and the European Union. The rise in unemployment in Argentina is symptomatic of a wrong policy mix. The Indian balance of payments was extremely strong in Q2 2017 as inflation hits a record low. Uruguay signals a clear intention to join the JP Morgan GBI EM GD benchmark index with its latest bond issue.

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