Impact of Fed Tapering Announcements on Emerging Markets

June 21st, 2014
in econ_news, syndication

from the International Monetary Fund

What were the market reactions to the 2013–14 Fed announcements relating to tapering of asset purchases? There is evidence of markets differentiating across countries around volatile episodes. Countries with stronger macroeconomic fundamentals, deeper financial markets, and a tighter macroprudential policy stance in the run-up to the tapering announcements experienced smaller currency depreciations and smaller increases in government bond yields. At the same time, there was less differentiation in the behavior of stock prices based on fundamentals.

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Source: http://www.imf.org/external/pubs/ft/wp/2014/wp14109.pdf









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