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Why DM asset owners are kicking themselves

Weaker emerging market currencies have hit investors who allowed bond managers to talk up the returns of local currency bonds. To get a full view of the damage, look back two years.
Why DM asset owners are kicking themselves

The sleepless nights endured by many developed market investors since late May have come not from underlying asset performance, but from currency depreciation in emerging markets. This has capped what has been a difficult two years.

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