In addition to the strong performance in equities in the major economies (US, Japan, Europe, UK) another key theme in 2013 was the weakness in the emerging market space - especially when it came to the currencies of Brazil, Turkey, India, and Indonesia. As we can see the Indonesian Rupiah has suffered the worst, while the other 3 were able to bottom out from their tailspin following Bernanke's first hint at tapering. November and December proved to be months of consolidation, but with their currencies about 12% lower against the USD, will this spur some increase in exports from those countries and a rebound in the currencies? Or will the theme of the removal of Fed bond buying continue to fuel a move out of the emerging market space, which could further undermine those currencies? Something to think about as we move into 2014.