There are “ pockets of value” in emerging markets, including Argentina’s beaten-down currency, Lisa Chua, a New York-based money manager at Man GLG, said in an interview last month. The firm boasted this year’s top developing-nation debt fund with more than $1 billion under management, according to data compiled by Bloomberg.
Trade Reminder
A year ago, Jens Nordvig at Exante Data LLC was cautioning that the markets weren’t adequately priced for a building U.S.-China trade dispute, as concern about North Korea’s nuclear weapons program garnered more attention. Now he expects trade tensions will remain a focal point in 2019, even after the world’s two biggest economies appear to have reached a tentative truce on tariffs.
“China will try to delay and delay, but not give in on the big stuff,” said Nordvig, Wall Street’s top-ranked currency strategist for five years running before founding Exante. “By the second quarter, the U.S. will have to decide if they agree to some cosmetic concessions, or whether they are actually ready for a sustained trade war.”
This story provided by Bloomberg News.