Is Now the Time to Buy Emering Market Debt?
The WSJ writes that the spreads look pretty good, and I agree. EDD is a good vehicle, IMO, if that's something you're interested in doing. This is particularly true if you think commodities are going to rebound and buouy tax revenues in places like Brazil, Peru, and some of the other oil-producing states.
But, yes, avoid Eastern Europe, Ecuador, Bolivia, Argentina (despite the election), and most things that end in -stan for the time being.