I make my own luck.
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Week ahead: There is Erdogan and then there is the rest
Chile, Peru, Poland, Romania, the Czech Republic, Mexico and the list goes on. A lot of EM central banks have started to hike interest rates due to the surging global inflation pressure and more is coming as pricing of hikes is getting increasingly frontloaded, which makes sense to us. We would probably argue that hikes can be frontloaded even further as inflation is bound to rise even further during Q4 2021 and Q1 2022. chart Front-end pricing of central banks is also going bananas in DM markets at the moment as everyone is throwing in the towel on the "transitory" inflation story as we have warned was bound to ... (full story)