Emerging markets (EM) central banks hiked early and large, and we believe U.S. sanctions are backfiring and undermining developed markets (DM) currencies in favor of EM commodity-based currencies. Additionally, fire-sale levels of high-beta EM credit spreads in USD have enabled us to accumulate in July. This is yet another reason why, following the devastation of [...] The post EM Debt’s Time to Shine appeared first on ETF Trends .