El-Erian Sees Emerging-Market Volatility on U.S. Debt Impasse
Pacific Investment Management Co. Chief Executive Officer Mohamed El-Erian said developing nations will remain volatile because of U.S. political turmoil.
“Emerging markets aren’t back to the old days,” El-Erian, also co-chief investment officer of the Newport Beach, California-based firm, said today at the 2013 Bretton Woods Committee International Council Meeting in Washington. “When you have the supplier of the global reserve currency, the deepest, most predictive for financial markets, being subject to the sort of political issues they are subject to today, you will impart that instability.”
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