July 7, 2025 05:41 PM GMT Key Takeaways Global EM Strategist EM Flows Driven by USD, But by How Much? We leave our views unchanged ahead of shifting tariff deadlines. We see lower yields and a weaker USD, which should help drive EM inflows. Must reads from Global EM Strategy LatAm Macro Strategy – MXN: The Road to 18.00 and Below | 7-Jul-2025 MXN positioning is only mildly long despite its recent rally and the currency has decoupled from domestic risks. USD weakness offsets lower carry, but the peso remains ...