Emerging market bond bargains

Emerging market bonds are the cheapest they have been in at least a year, but all of a sudden, no one wants them

Leave it to investors to run screaming from a fire sale.

During the bond bubble, investors stretched for yield in all sorts of risky places, including government and corporate debt issued by emerging markets such as Poland, Brazil and Malaysia. Over the past several months, however, funds holding such bonds have lost more than 10%.

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