Goldman says 'Fragile Five' are stronger than many think
The extent to which countries can respond to a shock today is arguably better than at any other time in the past few years
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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.
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