Investors including JPMorgan Asset Management, M&G Investments and Aviva Investors say they seized on the retreat in riskier assets at the start of the month to bolster their holdings of emerging-market bonds.
All across Wall Street, on equities desks and bond desks, at giant firms and niche outfits, the mood was glum. It was the end of 2022 and everyone, it seemed, was game-planning for the recession they were convinced was coming.
Goldman Sachs Group Inc.’s head of global currency, rates and emerging-markets strategy says he’s learned two main lessons from one of the biggest — and most-common — bad calls of 2023: the bet on post-pandemic China’s reopening boom.
Emerging-market borrowers are piling back into global bond markets, selling about $20 billion in dollar notes in just a few days, all too aware that the window of opportunity may snap shut as suddenly as it opened.
Wall Street has been caught by surprise by a rally in local emerging-market debt, an asset class that’s been largely abandoned by foreign investors after a decade of underperformance.
The riskiest bond trade in emerging markets is mounting a comeback, offering double-digit returns to those brave enough to flirt with default.
The world’s largest publicly-traded hedge fund is bracing for a selloff in emerging markets, a view that pits it against bulls at some of Wall Street’s biggest investment banks.
Some of this year’s worst-performing emerging markets will get another chance to lure back bond investors after their first round of aggressive rate hikes failed to contain inflation.
The widening economic gulf between China and other emerging markets is prompting some of the world’s largest investors to change how they allocate money to the asset class.
A Joe Biden presidency, checked by a Republican-controlled Senate, may be just what emerging-market investors are looking for.
The world’s developing nations have yet to experience the full effects, both economic and humanitarian, of the pandemic.