The year's emerging-market rally is already in danger of slowing
Cracks are appearing in Wall Street’s bullish case for emerging markets as hurdles — from Adani Group’s $108 billion rout to the Federal Reserve’s rate-hiking plans — prompt a more selective approach to investment.
By Maria Elena Vizcaino, Isabelle Lee and Zijia Song / Bloomberg
An early 2023 rally in developing-economy assets, fueled by China’s reopening and hopes for looser global financing conditions, is already starting to lose some momentum. As new risks arise, that has Goldman Sachs Asset Management and JPMorgan Chase & Co. among those touting more selective strategies.
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