Franklin Templeton’s Mohieddine Kronfol is joining the ranks of fund managers scanning for signs it’s time to pile into emerging markets left battered by the Treasury-led selloff.
U.S. 10-year real yields above zero will be the trigger for the Dubai-based chief investment officer for Middle Eastern and North African fixed income. He’ll be watching to see which bonds get punished most in the ensuing slump.
It’s an approach that’s proving popular with some of the world’s biggest investment firms, from JPMorgan Asset Management to Ashmore Group Plc. They’re betting any turmoil will be a temporary setback as vaccine efficacy and President Joe Biden’s stimulus package power a global economic upswing.
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