What Does EM Really Stand For?
Emerging Market... or Extremely Manic?
The world's investors appear to have entirely lost all sense of rational-thinking when it comes to 'risk' and 'reward'...
With expectations for Emerging Market debt-to-GDP (already at record highs) set to increase further over the next few years (no matter how much growthiness one prices in), Emerging Market sovereign credit risk has collapsed to its lowest since 2012.
Disclosure: None.