The Russian-Ukraine war has been in the headlines for weeks now, with phrases such as “supply chain disruptions” and “energy crunch” often being thrown into the mix. But what exactly has the effect of the war been on the global economy?
BlackRock maintains a modest overweight to EM local-currency debt amid an overall underweight to bonds. Much monetary tightening is already done, and valuations are compelling. They are neutral hard-currency EM debt.
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