Emerging market era more grind than go-go after rough start
A turn-of-year rally, spurred by odds of a less-aggressive Federal Reserve and Chinese growth, soon turned tenuous as global banking turmoil shook investor confidence. Those jitters caused developing stocks to pare an early gain, ending the quarter up just 3.5% about half the return of developed-market peers. EM dollar debt gained 1.7%, less than other global fixed-income segments.
