Emerging-markets currencies just had their biggest weekly gain since February.With China opting out of trade talks with US slated for next week, this gain might be short lived.
Tech disruption is deflationary, BofAML says. The supply of robots, artificial intelligence and big data putting downward pressure on the price of labor, goods, services & capital. Aging Demographics and Excess Debt adding to the deflationary pressure.
Venezuela’s hyperinflationary horror is far from unprecedented: In Venezuela it took less than 19 days in Aug for the currency to lose half its value. In worst month of Hungary’s hyperinflation, it took just 15 hours. Calculating half-life of a currency
In case you missed it: Rating agency Scope has cut China credit outlook to negative citing significant public-sector deficits despite recent consolidation efforts and a growing public sector debt stock; and high levels of total non-financial sector debt.
