Cameron Watt: Emerging Market Headwinds Now Tailwinds

The video discusses the dynamics of emerging markets, highlighting their appeal due to high carry relative to US Treasurys. It notes the shift from headwinds to tailwinds in markets like China and the under-ownership of this asset class. Turkey's economic challenges, including its current account deficit and pressure on the tourism sector, are examined. The video also explores Turkey's reliance on short-term instruments for financing and the impact of dual currency deposits, emphasizing the risks associated with corporate sector dollar debt.

What challenges does Turkey face regarding the financing of its current account deficit?

What was observed in the movement of deposits from dollar to lira in Turkey?