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20

Goldman Says Emerging Markets Are Flashing Green, Buy Local Debt

By Tony Seruga

‘Andean trio’ of Colombia, Peru, Chile currencies favored
Goldman also recommends shorting dollar versus loonie, aussie

Emerging market assets have been beaten up lately, but many of their fundamentals are still in good shape, and their local bonds are a buy, Goldman Sachs Group Inc. strategists say.

The narrative on developing nations appears to have done a 180 in recent weeks, from one of resilience to Federal Reserve tightening in the first quarter to vulnerability in the current one. Yet aside from countries such as Argentina and Turkey that have had particular economic challenges, as a group, developing nations look “sound,” Goldman says…

Goldman Says Emerging Markets Are Flashing Green, Buy Local Debt

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