1.) Dollar is strengthening. Janet Yellen said she'll raise rates by the end of the year. Most emerging market currencies have crashed 25-40% this year. 2.)

1.) Dollar is strengthening. Janet Yellen said she'll raise rates by the end of the year. Most emerging market currencies have crashed 25-40% this year. 2.) Yuan is weakening. Otherwise Chinese corporate dollar-denominated debts, which is around 1 trillion, will crush the economy right away when the fed raises rates. Plus the government already signaled it is willing to guide yuan lower a month ago. 3.) That's kinda like saying 'well, my 3 houses in the hamptons are burning down, but at least wood structure is the strongest right now!'