Goldman Sachs sees 'modest' emerging market rebound in 2019 By Reuters

Stock Market Today: Dow ends higher as dip buyers target tech amid easing yields

Goldman Sachs sees 'modest' emerging market rebound in 2019

Published Nov 20, 2018 10:47AM ET

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Goldman Sachs sees 'modest' emerging market rebound in 2019

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LONDON (Reuters) - Investment bank Goldman Sachs (NYSE:GS) said on Tuesday that it expected emerging market shares, currencies and bonds to see a modest rebound next year.

"We expect modest positive returns across the major EM indices next year, albeit with low risk-adjusted returns," analysts at Goldman said in a 2019 outlook report.

They forecast that emerging market equities would see the biggest rise at 12 percent in dollar terms, while EM currencies should appreciate by around 2 percent on average due to economic improvements and a modestly weaker U.S. dollar.

On local currency bonds they added that closely tracked GBI-EM debt index to provide around 10 percent returns on an "unhedged" basis and including "duration effects".

MSCI's 24-country EM stocks index (MSCIEF) is down 16 percent in 2018 so far.

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