Goldman Sachs: EM diversification needed; MSCI EM now AI-correlated, less macro-sensitive

Goldman Sachs advises a more diversified approach to emerging market investments, noting that the MSCI Emerging Markets index has become more correlated with AI and less sensitive to traditional macro factors. The bank specifically recommends Greece, which remains in MSCI's EM category despite other upgrades. This reflects a structural shift in EM composition toward tech, increasing concentration risk.