Below is a chart and excerpt from today's Early Look written by Macro analyst Ryan Ricci.
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In the Chart of the Day the black bars are how local currencies have performed YoY vs the dollar and the blue bars are the outstanding US Dollar denominated debt as a percent of a country’s GDP. Some of these numbers are incredible, like Chile having so much dollar denominated debt that it equates to 46% of GDP… or how about Turkey, Argentina, Chile, Saudi Arabia, and Mexico all having a ratio greater than 20%. Or how about Turkey, Argentina, South Africa, South Korea, and Chile all having their currencies down more than 15% vs the dollar YoY. |
