Commodity losses strip emerging markets of their lone attraction

The most popular trade in emerging markets this year ­ betting on commodity-exporting nations ­ is losing its appeal. One of the manages that has made changes recently is Nordea.
Witold Bahrke, a Copenhagen-based senior macro strategist at Nordea Investment, | Photo: Nordea
Witold Bahrke, a Copenhagen-based senior macro strategist at Nordea Investment, | Photo: Nordea
By Marcus Wong and Netty Ismail / BLOOMBERG

The currencies and bonds of Brazil to Mexico and South Africa were the best performers among developing-nation peers in the first five months of 2022 as commodity prices skyrocketed following Russia’s invasion of Ukraine.

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