GMO Reiterates ‘Once-in-a-Generation' Emerging-Market Debt Call
The firm first made the call in January 2024. Since then, the index tracking EM local currency government debt returns has risen more than 10%, outperforming the roughly 5% gain in investment-grade debt over the same period. However, the performance still lags behind the S&P 500, which has advanced 27%, and MSCI's all-country stock index, up 25%.
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