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Macroscope

Daily insight on the hottest topics in the global economy, central bank policymaking and international trade flows, putting developments in their perspective for a China-oriented audience.

A man is reflected in an electronic board displaying the Hang Seng Index in Mong Kok on September 6. The Hong Kong stock market slipped into bear territory on Monday. Photo: Winson Wong

Why the pain in emerging markets is likely to persist

While emerging market stocks have taken a beating, bonds have been fairly resilient. Investors waiting for bond prices to drop, however, will put strains on developing economies that could spread to the US.