JPMorgan Dials Back Bullish Emerging-Markets Calls on Iran War

(Bloomberg) -- JPMorgan Chase & Co. dialed back the scale of its overweight recommendations on emerging-market currencies and local bonds due to the risks posed by the US attack on Iran. Strategists led by Jonny Goulden, Anezka Christovova and Arindam Sandilya wrote in a note that reactions in emerging markets Monday morning had been negative but limited, presenting an opportunity to reduce some exposure as the conflict casts uncertainty over markets.“The constructive structural themes for EM fixed income r ...