Soaring Oil Prices Give a Lift to Resource-Rich Emerging Markets
- Middle eastern bonds, Latin American shares among favorites
- Abrdn sees ‘good environment’ for assets of Gulf exporters
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The commodity boom extended by sanctions on Russia is helping buoy the assets of other resource-rich emerging markets.
While the Bloomberg Emerging Markets Hard Currency Aggregate Index has fallen 3% since the war started, 15 of the 81 nations that are the gauge’s members are yielding positive returns. Most of them are commodity exporters, with Saudi Arabia, Angola, Uruguay and Qatar leading the way. In the local-currency universe, Nigerian bonds are top performers.