The official PMIs point to a surprisingly rapid recovery in services activity this month after virus restrictions were mostly lifted. But this likely reflects a one-off boost from reopening and we doubt this momentum can be sustained for long. EM Drop-In (Thurs, 7th July): Join our economists for their regular monthly briefing on the hot stories in EMs – and those that aren’t getting the attention they deserve. In this 20-minute session, topics will include the outlook for EM FX markets after the recent sell-offs. Register now.
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