Multi-stage latex particles with peg in outer stage

An aqueous latex composition comprising an acrylic core-shell latex, wherein acrylic monomer in the core-shell latex is present greater than 95% of all film forming monomers and a water-retaining monomer is copolymerized to the shell,

• wherein the Tg of the core ranges from about 0° C. to about 12° C., the Tg of the shell ranges from about 13° C. to about 40° C.,
• wherein the mean volume average particle size of the core-shell latex ranges from about 125 nm to about 200 nm, and
• wherein the core-shell latex comprises at least one acrylic monomer having a solubility that ranges from about 10 g/L to about 30 g/L at 30° C., and present in the shell polymer in an amount greater than 50 wt. % of all monomers in the shell,
• wherein the water-retaining monomer is present in the shell in an amount from about 1% to about 5% by weight of the core-shell latex.