During the past few years, a steady stream of money flowed into the bond markets of emerging economies as loose monetary policy, pursued by the US and Europe, gently nudged yield-hungry investors in this direction. But, last year, investors started pulling their money out of the asset class on a massive scale.
The trigger for this sudden shift came from comments made in May by Ben Bernanke, then chair of the US Federal Reserve, which hinted that quantitative easing might be on the way out. The
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