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Bonds Seen as Last Man Standing as Rally Loses Steam: EM Survey

  • Investors more confident on bonds than currencies and stocks
  • Brazil, Indonesia among favored; Argentina, Turkey at bottom
A pedestrian passes in front of a tube releasing a cloud of steam near the New York Stock Exchange (NYSE).

A pedestrian passes in front of a tube releasing a cloud of steam near the New York Stock Exchange (NYSE).

Photographer: Michael Nagle/Bloomberg
Updated on

As the recovery in emerging markets starts to abate, bonds are seen as the most resilient asset class amid a dovish Federal Reserve and the mounting prospect of slower global growth.

Most respondents in a Bloomberg survey of 36 global fund managers, strategists and traders expected developing-nation debt to continue this year’s rebound. They were less sure about the rallies in currencies and equities.