Posted 2/21/2024, 10:02:07 PM
Emerging Markets Rebound After Initial Drop on Hawkish Fed Minutes
- Largest US emerging markets ETF rebounded after initially falling due to FOMC minutes showing risk of Fed cutting rates too quickly
- Emerging market assets slid earlier due to lackluster demand for US Treasuries sending yields higher
- While US rate changes cause short-term volatility, impact from minutes seen as limited
- Chinese officials' moves to boost economy helped stabilize emerging market sentiment
- South African rand initially rose as country tapped reserves to reduce debt sales, but slid by day's end