Latest comments by ratings agency Fitch and coming hard on the heels of yesterday's Quarterly Review warning from the BIS that I posted here
- part of the rationale for ultra-loose mon pol from global central banks has been to depress risk and term premiums via a portfolio-rebalancing effect
- this is consistent with the emergence of pressure on emerging markets as Fed lift-off approaches
- emerging market borrowers may have become more exposed since 2008 to an impact on their funding conditions from an increase in US interest rates
More from Fitch here plus other US rate-hike related reports
