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Rating:BlackRock and JPMorgan Anticipate More EM Losses, and Outflows Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, September 09, 2013

BlackRock and JPMorgan Anticipate More EM Losses, and Outflows

News summary by MFWire's editors

Emerging markets' bond losses are getting the attention of big fund industry players such as BlackRock [profile] and JP Morgan [profile] , Bloomberg's Lisa Abramowicz and Rachel Evans write. According to these fundsters, the worst is ahead.

Abramowicz and Evans interviewed BlackRock's chief investment strategist in fixed-income, Jeffrey Rosenberg, who was quoted as saying, "We're not yet convinced that we've seen the worst in terms of flows out of emerging markets…We see a lot of valuation change but we see the potential for even more valuation change."

Abramowicz and Evans report that analysts led by Eric Beinstein at JP Morgan wrote on corporates from developing countries, "Given the likelihood of further rate volatility and an uncertain emerging markets growth outlook, we maintain our defensive view."

If you want evidence of BlackRock's superb coordination with the press, read Bloomberg reporter Bei Hu's piece on BlackRock co-founder and president, Robert Kapito's recent comments on emerging market bonds.

Kapito was quoted as saying weakness is emerging markets is "overdone," though he said he expects equity markets to perform better than fixed income, Hu writes.

To read more, click here and here.  

Edited by: Casey Quinlan

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