Emerging Markets Face Another `Challenging' Year, JPMorgan Says

  • Local-currency bonds to gain 3.7% after three years of losses
  • Dollar-denominated debt to return as little as 1% next year

While the worst of the emerging-market selloff may be over, a return to the golden days is unlikely, according to JPMorgan Chase & Co., provider of some of the most followed indexes for developing-country fixed income securities.

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