It was always just a matter of time before the emerging markets experienced some kind of wobble. Last month there was a reduction in risk across most asset classes. Currencies such as the Turkish lira and the South African rand suffered big falls, Latin American bonds sank to one of their lowest levels all year, and mayhem swept emerging equity markets from Brazil to Saudi Arabia to India. The questions now are: is this is a temporary blip or something more substantial, and, if it’s the latter, what...
