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Figure Heloc 
BNY’s Bob Savage highlights growing stress across emerging Asian assets as higher U.S. yields, a stronger Dollar and Oil shock weigh on Indonesia, the Philippines and India. IDR has hit record lows amid downgrades and index removals, while EM bonds face rising inflation and funding costs.
💡 DMK Insight
Emerging Asian assets are under pressure, and here’s why that matters: With U.S. yields climbing and the Dollar strengthening, currencies like the Indonesian Rupiah (IDR) are hitting record lows. This isn’t just a currency issue; it’s a broader signal of stress in emerging markets. Indonesia, the Philippines, and India are facing significant challenges, including downgrades and index removals, which could lead to a ripple effect across regional equities and bonds. Traders should be wary of rising inflation and funding costs that are likely to exacerbate this situation. For those trading EM bonds or related equities, keep an eye on key technical levels. If the IDR continues to decline, it could trigger further sell-offs in local assets. Watch for any signs of intervention from central banks or fiscal measures that might stabilize these currencies. The next few weeks will be crucial as markets react to these pressures, so stay alert for volatility spikes and potential opportunities in undervalued assets.
📮 Takeaway
Monitor the IDR’s performance closely; a continued decline could signal broader sell-offs in emerging Asian assets, impacting bonds and equities significantly.
