Goldman Sachs Asset Management says its OK to buy debt from Turkey, Argentina, Pakistan, Egypt and Qatar

  • S&P Global Ratings say the five have vulnerabilities in the event of higher interest rates and tighter monetary policy globally
  • GS is overweight Argentine and Turkish hard-currency debt as well as Egyptian local notes, saying "The extent to which countries can respond to a shock today is arguably better than any other time in the past few years"

More here at Bloomberg, worth a read!

I like this, in a more general sense;

  • "Sometimes you need to run towards the fire"
  • "These narratives often come at the wrong time and exacerbate fears that are unfounded"