BlackRock Warns of Whipsawed Emerging Markets After Taper Scare
- Developing-nation debt just had worst week since September
- Trigo Paz says developing nations look stronger than 2013
Oil pumps in Russia, a major exporter.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
There’s no immediate end in sight for bond investors getting tugged between risk-on rallies and selloffs that rekindled nightmares of the 2013 taper tantrum, according to the world’s largest money manager.
Sergio Trigo Paz, the London-based head of emerging-market debt at BlackRock Inc., said he’s bracing for a repeat of January and February, when developing-nation assets vacillated from several weeks of a “Goldilocks scenario” to several weeks of turmoil fueled by a spike in U.S. Treasury yields.