Strong dollar harms EME bond market liquidity – BIS paper
The strength of the US dollar plays a “pivotal role” in the liquidity of emerging market economy (EME) government bonds, new research published by the Bank for International Settlements finds.
The study, which focuses on South Korean markets, builds on a series of BIS research papers highlighting the dollar’s role as a “barometer” of global financial conditions. The findings imply recent monetary tightening by the Federal Reserve has made it harder for borrowers worldwide to access credit, as
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