The Reflation Euphoria Has a Dark Side for Emerging Markets
The Reflation Euphoria Has a Dark Side for Emerging Markets Bloomberg 2/19/2021 Joanna Ossinger and Lilian Karunungan (Bloomberg) -- Rising Treasury yields risk pulling the rug out from under the rally in emerging markets, denting one of the street’s favorite trades of the year. The prospect of a strong economic rebound and hefty U.S. stimulus has strategists at Goldman Sachs Group Inc. and money-managers at Amundi lending their voices to the bull case in the developing world. But the rout in Treasuries that these forces have unleashed should keep investors on their guard,...