Emerging Markets May Have Bottomed, Goldman Sachs Says
- Rebound potential seen first for credit and rates: Goldman
- Calling a trough can be a daunting task, report says
Photographer: Brett Gundlock/Bloomberg
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Emerging-market assets may have bottomed last month and the rally seen in July is likely the start of a more sustained rebound through the second half of this year, according to an analysis by Goldman Sachs Group Inc.
Moves in 2018 don’t stand out as being unusual when considered against history, Caesar Maasry and Ron Gray wrote in the report. Growth data, usually a better indicator than valuations, has shown recent signs of stability, they concluded. These are their key recommendations: