A Vanguard Group Inc. fund manager who outperformed 99% of his peers during the past three years is bracing for emerging-market defaults in 2020.
Caution is key in the new year as governments in Argentina and Lebanon risk debt restructurings or outright defaults to regain financial and economic control, said Dan Shaykevich, co-head of emerging-market and sovereign debt at Vanguard in Malvern, Pennsylvania. Some countries in sub-Saharan Africa are also at risk, he said.
