We're in for a Little bit of Volatility in 2019, Says Fitch Ratings' McCormack

The video discusses the growing concern over dollar-denominated debt in emerging markets, especially with the prospect of a stronger dollar. It highlights the expected volatility in capital flows due to rising interest rates in the US and the end of quantitative easing in Europe. The discussion also touches on the implications of the US fiscal deficit on long-term interest rates and the potential impact on emerging markets. Finally, it addresses the global financial tightening trend and its challenges for emerging markets.

What is the significance of the trillion dollar deficit in the United States as discussed in the text?

What are the expected trends in global financial conditions and their potential impact on emerging markets?