Sharp rebounds in emerging market currencies an opportunity
Emerging market currencies rallied last week by the most since 1998 but PIMCO says that's a chance to sell.
The emerging market basket of 20 currencies has been beaten down over the past year but it sharply bounced back since the end of September.
"These currencies look more interesting to be underweight from here than they were a week ago," Luke Spajic, an emerging markets money manager at Pimco, told Bloomberg.
One risk he notes would be China delivering stronger stimulus.
