The Emerging Market Rout Is Nearing a Turning Point, Templeton Says
- Fund is short Philippine peso, says EM closer to a bottom
- Greenback is too hard to predict, says Templeton’s Siniakov
This article is for subscribers only.
Franklin Templeton Investments says the rout in emerging markets may be nearing a bottom though reckons there are still countries like the Philippines that will suffer.
Given the uncertainty, the money manager is keeping a net neutral dollar position, while making trades including shorting the Philippine peso, as well as betting the Aussie will decline against the New Zealand dollar, said Chris Siniakov, managing director of fixed income for Australia at Templeton.