#argentina #pakistan #EM #bond #investing #yahoofinance
Bond investors are divesting from emerging market bonds, particularly in high-yield countries where governments have adopted looser fiscal policies. BlueBay Senior EM Sovereign Strategist Timothy Ash joins to share his perspective on emerging markets. Ash reflects on the past five years, noting, "We haven’t had a good individual… country story." However, he now sees promising opportunities in several emerging markets, with countries like Argentina, Pakistan, Turkey, and Egypt emerging as attractive EM bond prospects. Ash emphasizes the breadth of these opportunities, stating, "I could go on, the list is pretty long," and adds that there are now "some really good stories, and that’s encouraging." Turning to China, which has experienced declining growth, Ash recalls expectations that China would overtake the US to become "the economic hedge in money." However, Ash says, "China actually does make mistakes," with various sectors of their economy under pressure. Despite efforts to stimulate the Chinese economy, Ash notes that the country is "not seeing stimulus at scale." He concludes with a cautious outlook, stating, "China, I don’t think, is a particularly positive or constructive story." For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Angel Smith
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