Be Careful What You Buy in Emerging Markets, BlackRock Warns
- Period of ‘indiscriminate buying’ over: BlackRock’s Trigo Paz
- Money manager recommends bonds of Russia, Indonesia, Colombia
BlackRock Urges 'Great Migration' to EM Debt
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The BlackRock Inc. money manager who told investors in July to join a “great migration” into emerging-market debt now has a new piece of advice: be selective.
The period of “indiscriminate buying” that has prompted record inflows into developing-nation bonds is coming to an end, Sergio Trigo Paz, head of emerging-market debt at BlackRock said in a Bloomberg TV interview on Monday. Now, investors need to exercise caution or face being caught in a selloff if sentiment suddenly shifts.