Why have emerging markets (EM) performed so poorly this year thus far? Has the reflation trade worked the way that people believed it would? For Real Vision managing editor Roger Hirst, answers to these questions strike at the most central points of discussion from July’s episode of Insider Talks. He analyzes the new levels in the DXY and its implications for global financial conditions as well as data coming out of China to understand its role in the macro framework. Roger also discusses where bond yields and central bank policy come into the picture and its impact on markets. Filmed on July 12, 2021.