NEW YORK (Reuters) - The recent turbulence in emerging markets marks an "excellent time" for a partial shift into the sector for investors who have avoided the group all year, Jeffrey Gundlach, chief executive of DoubleLine Capital, said on Tuesday in an investor webcast.
Gundlach, known as Wall Street's "Bond King," said the sell-off in emerging markets, stemming from Argentina and Turkey, has produced opportunities not seen in years. Emerging market dollar bonds are now yielding more than U.S. high-yield bonds, he said.
"I think it is excellent time - if you haven't been in emerging market bonds or high-yield bonds - to contemplate at least a partial shift based upon the level of the dollar and valuation," Gundlach said.
(Reporting by Jennifer Ablan; editing by Jonathan Oatis)
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Updated Date: Jun 13, 2018 04:05 AM