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World's Largest Asset Manager Cuts Exposure To Emerging Markets
Emerging markets have suffered a lot of pain in the past two quarters, and even though July saw them pare some losses, key elections are looming, and risk seems to be on the rise. So much so that even one-time emerging market cheerleader BlackRock is pulling out. When the world’s largest asset manager withdraws from emerging markets, it’s a dire sign. In recent months, Reuters reports that BlackRock bond investor Rick Rieder has cut his emerging markets exposure by half, citing fears that the dollar could “potentially continue to grind higher”. Rieder is BlackRock’s chief investment officer, and he thinks ... (full story)