Citi Fears The Emerging Market Volatility “May Just Be The Beginning”!

• The 1997 Asian Financial Crisis comes to my mind. Watch Thailand ! It is still in never-ending political turmoil. Like 1997, Thailand will likely be the trigger to financially massacre Asia!
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• Citi Fears The Emerging Market Volatility “May Just Be The Beginning”! 
  by Tyler Durden, www.zerohedge.com
  Via Citi FX Technicals,
  Up the escalator, down the elevator shaft
  The volatility in Local Markets which began in 2013 may just be beginning as much of the excess liquidity that went in search for yield may reverse course. During the next few months to few years, we would not be surprised to see even greater stress as the “Greenspan/Bernanke/Yellen put” begins to fade and volatility returns to markets.
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  LatAm is coming under pressure with Brazil, Mexico, Chile and Colombia all setting up for further losses. In CEEMEA, stress has been more selective with Turkey, South Africa, Russia and Hungary being the countries in focus for now.
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  While Asian Local Markets remain relatively calm compared to LatAm and CEEMEA, the ADXY Index is testing a major support level at 115. A monthly close below there would be concerning and suggest Asian currencies could come under significant pressure.
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  We can’t help but feel that the current pressure being felt in Local Market currencies and equity indices may only be starting. As we pointed out yesterday (and re-printed here), the backdrop over the last decade is very similar to that seen from 1989-1998 when:
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