Joseph Cotterill @jsphctrl.ft.com · Mar 3 How's liquidity in EM in this crisis? Egyptian T-bills (with a nominal 1-year yield of ~23%) have been a popular emerging market debt trade exposed to the region. Offshore investors cut exposure by a bit before the war, but didn't (or couldn't?) rush to the exits just yet. www.ft.com/content/25d6...
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Meanwhile in emerging market equities, where a big part of the MSCI EM index return this year has been three AI chipmakers in a trenchcoat, you can see where the crowded trades were - Korea, with Samsung and SK Hynix both down about 10%.