IMF warns rates shift could be tipping point for EM bond funds
Diminished access to foreign capital could make it more challenging for emerging markets to finance deficits and roll over debt
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Moscow
IT'S one of the most crowded trades for good reason. But dizzying returns and a surge of inflows have put emerging markets on a narrow precipice.
After several false starts, economists are predicting next year will finally be the one in which borrowing costs get a significant leg-up. The International Monetary Fund is warning it could mark the tipping point for emerging-market bond funds sitting on the biggest annual inflows since the financial crisis.
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