Commentary: Emerging market trials persist
By Gary Kleiman in Washington
Last year’s thrashing in all emerging market investment classes, with debt, equity and currencies in simultaneous decline for the first time in a decade, prompted reconsideration of allocation rationale into the next decade.
Crises in Argentina and Turkey in 2018 were in part a replay of 2013 Federal Reserve-induced ‘taper tantrum’, as retail foreign investors sold indiscriminately. Contagion may yet spread, but for now index...