Goldman Sachs Asset Management says its OK to buy debt from Turkey, Argentina, Pakistan, Egypt and Qatar
- S&P Global Ratings say the five have vulnerabilities in the event of higher interest rates and tighter monetary policy globally
- GS is overweight Argentine and Turkish hard-currency debt as well as Egyptian local notes, saying "The extent to which countries can respond to a shock today is arguably better than any other time in the past few years"
More here at Bloomberg, worth a read!
I like this, in a more general sense;
- "Sometimes you need to run towards the fire"
- "These narratives often come at the wrong time and exacerbate fears that are unfounded"