Latin American markets fell sharply on Thursday amid a global sell-off of risky assets. Ongoing worries about Europe’s fiscal woes sent investors in search of perceived safe havens, such as the US dollar and US Treasuries, and away from emerging market stocks and currencies.
“Positioning is also playing a role with wholesale risk reduction more evident in the markets that are more liquid and crowded leaving Brazil and [the real] generally more vulnerable in any initial sell-off [of emerging markets]“, Flavia Cattan-Naslausky of RBS Securities wrote in a note to clients.
Swiftly rising waters sweeping though central Europe have killed as many as 10 people, but Poland’s increasingly robust economy looks like it shrug off the consequences of high water without too much problem. 
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