Emerging markets

Emerging market debt hits record high

Debt in smaller emerging market countries, which are now providing the majority of the world's growth, rose to a record high of $69 trillion in the first quarter, IIF reported.

Why it matters: EM debt has been growing at a breakneck pace so far this year, as global investors search for yield with developed market interest rates at or near all-time lows.

Turkey faces an economic crossroads after Istanbul elections

Data: Investing.com; Chart: Axios Visuals

Investors are again getting bullish on emerging markets, as the Fed is expected to cut interest rates and the dollar is expected to fall in value. That should mean a strong environment for EM economies to perform.

Yes, but: Things have gotten tougher for many of the world's largest emerging countries, especially Turkey, which finds itself at a major crossroads following elections in Istanbul.