Lima
WALL Street got it wrong on BRICs and PIGS. Now, some of the world's largest money managers say the newly minted members of the "Fragile Five" are actually fairly sturdy.
Goldman Sachs Asset Management, T Rowe Price Group and BlackRock Inc are among investors buying bonds from the developing nations that earlier this month earned the dubious distinction from S&P Global Ratings. The ratings company cited perceived vulnerabilities in the event of higher interest rates and tighter monetary policy globally.
The new grouping, actually a revamp of a list created four years ago by Morgan Stanley, is composed of Turkey, Argentina, Pakistan, Egypt and Qatar. Although the nations face a variety of political...
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