BlackRock recommends dollar EM bonds

Given the recent exodus of money from emerging markets and much increased EM currency volatility, certain governments are turning to hard-currency bond issues – and investors would be well advised to buy them, argued BlackRock's head of EM fixed income yesterday. Prior to the EM rout, sparked largely by the US Federal Reserve’s hinting in late May that it would start tapering its stimulus programme, EM governments were well set in terms of financing, said Sergio Trigo-Paz. He was …