, Columnist
Forget Tantrums, Emerging Markets Are the Haven Now
The Fed’s plans suggest this is a good time for rotation.
Prices in Manila: Looking ahead.
Photographer: Carlo Gabuco/BloombergThis article is for subscribers only.
Just as the Federal Reserve steadily picks up the pace of rate increases, Wall Street’s quantitative strategists are telling clients to sell U.S. stocks and buy into emerging markets.
U.S. central bankers are increasingly confident in their view of the economy. Of the Fed’s 16 voting members, 12 are advocating for one last rate increment this year, bringing the 2018 total to four. That compares with eight such votes in June. Policy is no longer “accommodative,” according to the latest statement.