· Chart 1: $-index, turned up from the proverbial Rubicon line
· Chart 2: Re-adjustment of the term-premium
· Chart 3: $-Liquidity is like dynamite fishing…
· Chart 4: EMs the beneficiaries of a misallocation of liquidity
· Chart 5: Bloomberg EM FX carry index has broken out of bull trend
· Chart 6: MSCI EM, testing trend-reversing support levels
· Chart 7: Cost of EM debt rising
· Chart 8: DXY, the dollar has started to trend
· Chart 9: $-rand, has corrected to the break-out level
· Chart 10: R186, expect short-term correction then higher levels
· Chart 11: JSE Top-40 ($), also testing a major support line
· Chart 12: JSE SWIX, expect further downside potential
StrategyNote_180514