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Move Over BRICS. Here Comes the Fab Five…Plus One?

BRICs was the buzzword for emerging market investors in the early part of this century, with strategists extolling the prospects for rapid economic growth in Brazil, Russia, India and China. Many of the Fragile Five, which included India and Indonesia, are in better shape now, while emerging market debt has had a strong run this year. "The five are ‘fab’ because they are high yielders and net commodity exporters, which means their local bonds are expected to benefit from higher commodity prices," De Silva writes.