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“Real rates making new lows at this stage of the cycle is really quite curious and I’m always nervous when I feel that I don’t understand the reason for a move – the market is smarter than anyone – so I am a bit nervous.”
Dirk Willer, managing director and global head of emerging market FX and fixed income strategy at Citi Research, was revealingly frank when he spoke to Euromoney over the summer about the profound impact that US rate uncertainty is having on emerging market (EM) economies.
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