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EM Cracks as Dollar Carry Crowd Rushes for Exits

Source: zerohedge.com

Emerging markets are cracking as investors pile into US assets amid a weakening dollar carry trade.
Key signs include 10%+ drops in Brazil and South Africa currencies, plus sharp equity selloffs.
This shift risks broader financial instability if the crowd rushes for the exits.

Emerging market assets are under heavy pressure as the popular dollar carry trade unravels, forcing investors to dump riskier holdings. Major players like Brazil, South Africa, and Turkey are hit hardest, with currencies and stocks plunging. The core argument is that the crowd's rush into US Treasuries is amplifying the pain, and it matters because it could spark contagion to global markets if sentiment sours further.