Commodity Boom Dwarfs Oil Spat as Emerging Markets Set to Win

Commodity Boom Dwarfs Oil Spat as Emerging Markets Set to Win

(Bloomberg) --

For some of the world’s biggest money managers, the OPEC+ oil-price feud is little more than a sideshow when it comes to emerging markets.

Investors and strategists at JPMorgan Chase & Co. and Goldman Sachs Group Inc. say the post-pandemic economic recovery will stoke demand for raw materials across the board, buoying commodity-sensitive assets regardless of whether a crude accord is reached. Russia and Colombia are among the countries that stand to benefit in particular, according to Whitney Baker, the New York-based founder of Totem Macro, which advises funds overseeing more than $3 trillion.