JPMorgan, BlackRock Warn Contagion Hitting Emerging Markets
- Every emerging-market currency has fallen in past six months
- Dollar strength ‘not a good story’ for EM, JPMorgan says
This article is for subscribers only.
First came the Argentine selloff. Then Turkey. And before long, assets from South Africa to Brazil and Indonesia were getting hit in a selling stampede across emerging markets.
It’s a phenomenon that has a cadre of investors and strategists from JPMorgan Chase & Co. to BlackRock Inc. reaching for a single word: contagion.