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The US bond rally eases pressure on hedging funds in new markets U.S. bond yields and the weakening dollar have helped drive the recovery of emerging hedge funds in the market, including $ 12 billion in assets by Pharo Management, after a tough start to the year. Emerging market funds gained 1.9 percent last month, according to the Eurekahedge data group, ahead of a 1.1 percent gain among hedge funds. This leaves 5.4% this year, behind the average earnings of hedge funds of almost 8%. Emerging market managers have taken advantage of the recent decline in U.S. Treasury yields, which began earl...