Emerging-Market Bulls Take Heart as Election Outcome Rouses Risk
- Biden presidency, a Republican Senate to boost EM: Eaton Vance
- Erdogan’s ouster of central bank governor may rattle traders
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The emerging-market bargain-buyers are in celebration mode. And the party’s not over yet.
The prospect of a Joe Biden presidency checked by a divided Congress has gotten everyone from Eaton Vance Corp. to Medley Global Advisors predicting a fresh boost for risk assets, just a week after the stocks, currencies and bonds of developing nations hit the buffers as the U.S. election approached. BlackRock Inc. says developing-nation assets, which look more appealing in this low-rate world, could benefit from a more moderate leader in the White House. The Biden administration’s policy approach will probably reduce uncertainty, according to UBS Global Wealth Management.