(Harvest) Summer is just beginning, but emerging-market (EM) bonds and currencies have been on a roller-coaster ride for months now. In markets, though, volatility breeds opportunity—and we still see plenty of that among EM issuers. When 2018 began, we warned investors to be prepared for volatility and a faster-than-expected rise in US interest rates. But we also noted that strong global growth and improved economic fundamentals in much of the developing world have made emerging-market debt (EMD) less vulnerable to external shocks.
Emerging-Market Debt: Expect Volatility—and Opportunity
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