JPMorgan’s Pierre-Yves Bareau, who oversees $50 billion in emerging-market debt, says he’s never seen so much value unlocked from distressed and defaulted government notes this late in a Federal Reserve interest-rate hiking cycle.
Nasdaq rises 1%, Dow, S&P close higher as weak jobs data tempers rate hike bets
U.S. stocks finished higher following a weaker-than-expected jobs report which eased rate hike expectations. Nonfarm payrolls rose by only 29,000, significantly below economists’ forecasts of