No. of Recommendations: 3

you could use a chart to see where EMB has been in relation to the US dollar. I used DXY in the link. Change to PYC on top of DXY and you get pretty much the same response. I understand that DXY is not an emerging market currency basket, so likely you could find a better proxy.

still, the chart seems to say these things mirror the US dollar.

For years before the flashcrash, EMB tracked the ups and downs of the S&P500. However, since the flashcrash, EMB has held, while the S&P has dropped.

interesting way to play the emerging markets debt, thanks for bringing it up.

anyone interested in this, to me, a most confusing subject, might enjoy this free pub from the old UBS called "Foreign Exchange and Money Market Transactions". this link does not load correctly, or at least not for me.

this link does load correctly:

Ti (short the euro and the S&P just now but mostly in <4yr USTs via Hussman's managed sortofabond fund HSTRX)
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