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https://reuters.com/markets/emerging-markets-bulls-are-back-again-2022-11-23/A "bullish" Morgan Stanley expects a near 17% return on EM local currency debt. Credit Suisse "particularly" likes hard currency debt, while BofA's latest global fund manager survey shows "long EM" is the top "contrarian" trade.
"It's a kind of a wholesale de-grossing of risk," said T. Rowe Price EM portfolio manager Samy Muaddi, who has started dipping his toe back into what he describes as "well-anchored" EM countries such as Dominican Republic, Ivory Coast and Morocco.
"Now, I feel the price is sufficiently attractive to warrant a contrarian view".