EM Stocks Show No Clear Signaling of a Bottom, Seksaria Says

The video discusses the current state of market positioning in emerging markets, highlighting the stretched nature of positioning and the high FX volatility compared to equity volatility. It explores the diverse fundamentals across emerging markets and the lack of clear signals on market bottoms. The discussion also covers the idiosyncratic nature of recent currency runs and the potential systemic influences, such as the Fed's actions, drawing parallels to past financial crises.

What is the significance of idiosyncratic exceptions in the context of currency runs?

What concerns are raised regarding the correlations in emerging markets?