By Edwin Gutierrez, Head of Emerging Market Sovereign Debt, Aberdeen
The Wall Street Crash was a shock. On a less spectacular level — except to the dazed and confused Brazilians — was the 7-1 semi-final loss that knocked Latin America’s largest nation out of the soccer World Cup of 2014. Compared with these, the widely predicted first US rate rise — expected to happen by the end of the year — is a decidedly unshocking shock. Contrary to some warnings, investors in emerging market bonds certainly shouldn’t worry about it too much — although they shouldn’t be complacent either.