Citigroup Joins UBS to Predict Agony for Emerging Markets
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Gains in emerging markets since the start of the year failed to make UBS Group AG and Citigroup Inc. any less bearish as they saw new risks arising and weakening the chance of 2016- or 2009-style rebound.
The MSCI Emerging Markets Index, the equity benchmark, fell Tuesday after posting the biggest two-day gain in two months. The currencies gauge retreated from the highest level since July. A measure of dollar debt rose for a seventh day Monday, and its local-currency counterpart climbed to an eight-month high.