Wall Street Clashes Over Emerging-Market Bonds as UBS Says Sell
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Two of the world’s biggest banks have come out with very different takes on emerging-market debt.
Strategists at UBS AG’s wealth management unit turned bearish on U.S. dollar debt of developing nations on June 26 as the securities rallied on renewed confidence that central banks will maintain their stimulus. Meanwhile, JPMorgan Chase & Co. strategist Jan Loeys said in a report last week that the debt still offers good value compared with other options in developed nations.