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J. Safra Sarasin: Chorus predicting an EM debt crisis is out of tune

“Credit spreads on EM hard currency bonds are vulnerable to a further widening as investors continue to navigate the perfect storm of risks, but claims that we stand on the verge of an EM debt crisis are overdone,” said J. Safra Sarasin’s EM strategist, David Rees. “Poor fundamentals in Argentina and Turkey are the exception rather than the norm, while…

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