Front notes: Bracing for the turn

Front notes: Bracing for the turn

Markets breathed a sigh of relief in September when the US Federal Reserve chose to delay winding down its $85 billion per month bond buying program. Nowhere relished the news more than the emerging world, where markets had tumbled since the first hint in May that the stimulus would be curtailed sooner than previously thought. Latin assets, in particular, received a much-needed shot in the arm: stocks, bonds and currencies that had lost ground in the preceding months to a rapidly strengthening dollar, rallied. The change in sentiment granted a welcome respite to authorities that had been struggling to stabilize their exchange rates while suffering persistent capital outflows. For now, f

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