To Goldman, Developed World Looks Riskier Than Erdogan, Zuma
- Twenty-two of 24 emerging-market currencies are up this year
- Growth forecasts hint at rally in developing-nation stocks
Supporters wave French flags during a rally of French presidential election candidate for the far-right Front National (FN) party Marine Le Pen, in Monswiller, north-eastern France, on April 5, 2017. / AFP PHOTO / ALAIN JOCARD (Photo credit should read ALAIN JOCARD/AFP/Getty Images)
Photographer: ALAIN JOCARD/AFP/Getty ImagesGeopolitical risks may be on the rise in emerging markets, but investors from Goldman Sachs to BlackRock aren’t much bothered by them. Developed nations, on the other hand, are giving them the jitters.
Take France: far-right presidential candidate Marine Le Pen and the Communist-backed Jean-Luc Melenchon are both polling in the top four less than two weeks before the first-round vote; the ripple effect of the U.K.’s vote to leave the EU is threatening to undermine financial stability in Europe; and Donald Trump’s recent fixation on Syrian military strikes could spring a war.