Turkey's inflation cooled to 29.73%, India looks set to hike into strength, the Philippines is tightening against an inflation overshoot, and Brazil's stocks jumped 7.7% after a market-friendly election result forced an October 25 runoff.
Flávio Bolsonaro heads into Brazil’s October 25 runoff after finishing first on Sunday, a result that sent the Ibovespa to a record close. Source
Emerging markets got treated as a single trade for most of the last decade: one basket, one risk appetite, one "EM" ticker to buy or sell. This week breaks that assumption cleanly. Three central banks are pulling in three different directions on the same inflation problem, and a fourth market just proved that politics, not price data, can still move the biggest number on the board.
