Monday, September 2, 2013
The Big Bond Sale
â€œIt is going to happen in a matter of days rather than weeks, Brazil and India can start the move,â€ said Dipak Dasgupta, a top Indian official. Mr Dasgputa told Reuters that China, Brazil, India, Turkey, Russia and South Africa have all been squeezed as the US Federal Reserve prepares to tighten monetary policy. Joint action would give emerging markets greater firepower, allowing them to deploy their combined $8.7 trillion (Â£5.6 trillion) of reserves and crush â€œspeculatorsâ€, rather than being picked off one by one.