Jeff Mason is a White House Correspondent for Reuters and the 2016-2017 president of the White House Correspondents’ Association. He was the lead Reuters correspondent for President Barack Obama's 2012 campaign and interviewed the president at the White House in 2015. Jeff has been based in Washington since 2008, when he covered the historic race between Obama, Hillary Clinton and John McCain. Jeff started his career in Frankfurt, Germany, where he covered the airline industry before moving to Brussels, Belgium, where he covered the European Union. He is a Colorado native, proud graduate of Northwestern University and former Fulbright scholar.
Twitter handle: @jeffmason1
NEW YORK/CARACAS Venezuela faces payments of $1.1 billion in interest and principal on two bonds maturing on Wednesday, but investors expect the cash-strapped nation to continue its pattern of no payments.
(Repeats with no changes to text) By Rodrigo Campos NEW YORK, Aug 14 (Reuters) - As T urkey's financial markets spiral down, threatening the country's economy, investors are gauging whether emerging markets as an asset class are in danger of falling out of grace. The following selection of data points indicate there is relative weakness in Argentina and South Africa, while Asia and Mexico show strength. A plunge in the Turkish lira has set off a wave of selling across emerging market assets, reviving fears of contagion that has been the sector's Achilles heel for decades. [nL5N1V41Y9 ] Stock prices fell significant ly while government bond yields rose across emerging markets. The bout of selling has taken prices and spreads near their 15-year average, indicating further declines could turn out to be good buying opportuniti es. Most countries listed here import more goods than they export, in value terms. Argentina, with the largest net deficit on this list, is one of the markets usually expected to suffer under continued U.S. dollar strengtheni ng. Foreign direct investment (FDI) supports economic growth in most cases and can make up for a current account deficit. Combined with data on import/expo rt balances, the FDI data highlights South Africa as a likely weak spot if concerns over Turkey spread globally. Emerging market equities measured in U.S. dollars are strongly linked to the performance of local currencies. The lira's troubles so far this year are comparable only to Argentina's peso and both have made for sharp negative stock returns in greenbacks. The Mexican peso is one of the few emerging market currencies to rise this year and its stock market has outperforme d the MSCI Emerging Markets index by over 900 basis points. Argentina and Turkey are ahead again in a measure of the government debt yield spread to U.S. Treasuries. As their currencies weaken and their ability to grow their economies comes into question, investors demand more and more yield to hold these countries' debt. ^^^^^^^^^^^ ^^^^^^^^^^^ ^^^^^^^^^^^ ^^^^^ EM equity valuations, bond spreads http://bit.ly/2MIKbuN EM Equity valuations, bond spreads https://reut.rs/2P2i8Ip Import/expo rt balance in key EM economies https://tmsnrt.rs/2vHGkHV Import/Expo rt balance in key EM economies https://reut.rs/2P8QeKB Foreign Direct Investment, net inflows https://tmsnrt.rs/2BaKxJl Foreign direct investment, net inflows https://reut.rs/2P5gYf0 Emerging markets equity performance (USD) https://tmsnrt.rs/2P9FYC6 Emerging markets equity performance https://reut.rs/2P8woiQ Select EM currencies YTD https://tmsnrt.rs/2Mh3iA9 Select EM currencies YTD https://reut.rs/2vIx5aq EM sovereign bonds in hard currencies (EMBI Glb.Div) https://tmsnrt.rs/2OtUVxw EM sovereign bonds in hard currencies, spread (EMBI Glb.Div) https://reut.rs/2P8r9iY ^^^^^^^^^^^ ^^^^^^^^^^^ ^^^^^^^^^^^ ^^^^^^^^^^^ ^^^^^^^^^^^ ^^^^> (Reporting and graphics by Rodrigo Campos; Editing by Daniel Bases and Rosalba O'Brien)
NEW YORK As Turkey's financial markets spiral down, threatening the country's economy, investors are gauging whether emerging markets as an asset class are in danger of falling out of grace. The following selection of data points indicate there is relative weakness in Argentina and South Africa, while Asia and Mexico show strength.
NEW YORK Brazilian state-run electricity utility Companhia Energética de Minas Gerais (Cemig) is considering a strategic partnership as part of its plan to divest its stake in Light SA , the company's chief financial officer said on Monday.
NEW YORK Ecuador's recent turn toward a more market friendly economic policies has lifted investor sentiment toward the Andean country, but follow-through beyond fiscal discipline will be key in order for the positive market reaction to continue, investors and analysts said.
NEW YORK Mexican assets are poised to strengthen even if leftist front-runner Andres Manuel Lopez Obrador wins Sunday's presidential election, analysts say, on expectations he will govern from the center and as the uncertainty stemming from the race fades.
NEW YORK Senior Myanmar military officials, including the commanders of its defense services and army, should face trial for crimes against humanity over the treatment of Rohingya minorities, Amnesty International said in a report on Tuesday. | Video
NEW YORK A group of institutional investors holding roughly 13 percent of Venezuela's foreign debt said on Monday it will not back any restructuring plan that does not imply equal treatment for all creditors.
NEW YORK Index provider MSCI said on Wednesday it will reclassify Argentina as an emerging market and begin including Saudi Arabia in that classification, sharply broadening the investor base for both countries in a move that could be supportive of their equity markets.
UNITED NATIONS The United Nations General Assembly voted on Friday to elect Germany, Belgium, South Africa, the Dominican Republic and Indonesia for a two-year term in the Security Council starting on Jan. 1, 2019.