Nomura On The Emerging Markets That Are Most Vulnerable To An Oil Price Shock

Some interesting analysis from Nomura’s Jim McCormick on emerging market vulnerability to the situation in the Mideast higher oil prices.

More broadly, looking at net exports of oil as a percentage of GDP, Asian markets, bar Malaysia and Indonesia, together with Turkey and Poland, appear to be most vulnerable to higher oil prices, while Russia stands to be a major beneficiary. Our EM team recommends selling Russia CDS vs buying Poland.

emerging markets oil

Photo: Nomura

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