HALISTER1: Emerging-Market Rally Has Legs as Trump Trade Dims: AB’s Harting

Emerging-Market Rally Has Legs as Trump Trade Dims: AB’s Harting

(Bloomberg) -- Emerging-market assets have "a lot of room left in the tank" to continue their rally as the Trump trade continues to fade, Morgan Harting, lead portfolio-manager for multi-asset income strategies at AllianceBernstein, says on Bloomberg TV.
  • Says fundamentals in developing nations are "about as good as they’ve been in five years"
  • Sees opportunities in Asian equities (Korean financials) and LatAm fixed income (Brazil and Mexico)
  • Brazil political risk already priced in
    • Expects President Michel Temer to be out of office within next month
    • Says market will receive new president well given Temer’s low approval ratings
    • Favors Brazilian bonds over equities given high inflation-adjusted yields
  • Also sees opportunities in Poland and Hungary as well as Argentine equities ahead of MSCI decision
To contact the reporter on this story: Ben Bartenstein in Lima at bbartenstei3@bloomberg.net

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Morgan Harting (AllianceBernstein Holding LP)
Michel Temer (Federative Republic of Brazil)

Topics
Emerging Mkts News, Analysis

To de-activate this alert, click here
To modify this alert, click here

UUID: 7947283