Bond-Market Veteran Braces for More Emerging-Market Defaults
- Default rates to rise in 2019 and probably 2020, Hussain says
- Companies in China and Latin America seen leading defaults
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Veteran fixed-income investor Abdul Kadir Hussain sees unsettling similarities between the 1997 Asian crisis and the present that spell trouble for emerging markets.
Default rates on emerging-market debt will climb next year as the ending of a decade of easy money by central banks hits weaker companies the most, said Hussain, the head of fixed income at Arqaam Capital, a Dubai-based investment bank.