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“The theory is dead simple: emerging-market assets have already bombed, so the downside, if things get worse, is much lower and if things recover they have greater potential to perform,” said Anthony Peters, an independent analyst, formerly at Blockex Ltd., who’s long covered developing nations. Investors will be carefully watching the U.S. Federal Reserve after Chairman Jerome Powell wasn’t as dovish as they’d hoped in comments that followed the central bank’s interest-rate increase on Dec. 19.
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