Emerging Markets Sink as US Treasury Yields Surge

Emerging-market assets fell further on Monday. A sharp rise in US Treasury yields is pulling money out of developing-world markets. Emerging-market stocks dropped, while EM bonds headed for their worst month since March. In March, the start of the Iran war shook global markets. Higher US Treasury yields make safer US assets more attractive. As a result, investors sell riskier assets such as emerging-market stocks and bonds.