Pimco [profile] isn't the only contrarian when it comes to emerging markets. Neuberger Berman's [profile] co-head of its developing nation bond team, Ramain Toloui, said he sees value in the emerging market selloff, Bloomberg News' Lilian Karunungan and David Yong write. The firm is looking at local-currency bonds with a "mostly neutral to accommodative" monetary policy, which should mitigate the risk of higher U.S. rates, Karunungan and Yong report.

Karunungan and Yong quote Toloui's research note as reading, "From a fundamental point of view, we see value in the higher yields on many EM bonds, both in local currency and U.S. dollars." Toloui didn't specify which markets the firm was referencing.

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Edited by: Casey Quinlan


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