BRIC Stocks May Double as Valuations Soar on Fed, SocGen Says
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Stock markets in the biggest developing nations may double as the Federal Reserve’s monetary stimulus sends valuations back to their 2008 peak, according to Dylan Grice, a global strategist at Societe Generale SA.
Investors have poured record amounts of money into emerging-market equity funds this year as U.S. benchmark interest rates near zero spurred demand for higher-yielding assets abroad, EPFR Global data show. Fed Chairman Ben S. Bernanke said last week more monetary stimulus may be warranted after $1.7 trillion of debt purchases failed to spur growth.