3. iShares JP Morgan Emerging Market Corporate Bond (EMB). Due to monetary tightening and rising interest rates accross all emergers -- Brazil, India and China, in particular -- the cash flow from bond payments has barely made up for the capital depreciation. However, the majority of EMs are getting closer to embracing a more neutral stance; each will be turning its attention back to growing its economic activity, rather than constraining it.
Consider all of the talk about emerging market outflows and emerging market underperformance. That's old news! Emergers have reclaimed their assertiveness since late February, and that includes the corporate bonds arena. EMB has climbed above and effectively remained above its 200-day exponential average for five weeks.