Emerging markets dodge the disorder

Market volatility has led investors to seek out safe assets. Gold and the Swiss franc have risen in demand, as well as emerging-market debt (EMD). Emerging markets were expected to be heavily impacted by President Trump’s trade measures, with the view that the US dollar would strengthen. However, the International Monetary Fund has revised its global growth expectations down by just half a percentage point from three months ago; the US economy’s forecast has been knocked down by a third. EMs have handled previous shocks, navigating the Covid-19 pandemic and high inflation levels caused by...