The Fragile Five have become the Fantastic Five.
Just six months after fears of an emerging-market meltdown rattled world markets, stocks and bonds in the so-called Fragile Five economies — Turkey, India, Indonesia, Brazil and, to a lesser extent, South Africa — have become the primary targets for yield-hungry global investors.
According to research from Merrill Lynch, almost all of those countries are among the 10 best-performing assets so far this year. Indonesia, for instance, ranks No. 1, with a return of 30 percent, while Turkey follows in No. 2 place with a return of 25 percent.
India had a 20.4 percent return, making it in the top 5, and Brazil returned a solid 15.2 percent so far.
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