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Top 1% EM Money Manager Says Couldn’t Ask for Better Bond Market

  • Shaykevich likes bonds from Ukraine to Indonesia and Panama
  • EM debt fund is among the few with a positive return in 2020
Vehicles circle a roundabout during a partial lockdown in Jakarta on May 27.

Vehicles circle a roundabout during a partial lockdown in Jakarta on May 27.

Photographer: Dimas Ardian/Bloomberg

The steep decline in developing-nation debt earlier this year has created an opening for investors to scoop up notes with low default risk on the cheap, according to a top Vanguard Group Inc. money manager.

Dan Shaykevich, the firm’s co-head of emerging-market and sovereign bonds, has bought into a rebound in those securities since March, when the intensifying Covid-19 outbreak spurred the worst selloff since the 2008 financial crisis.