Inflation Stalks Emerging Bonds, Stoking Demand for Refuge

(Bloomberg) — As the global economy rebounds and commodity prices hit multi-year highs, emerging-market investors are seeking refuge in the one area that offers protection from inflation concerns.While this year’s global bond rout and the prospect of accelerating inflation have inflicted pain across markets from Brazil to Russia, debt securities that are linked to the pace of consumer-price gains have weathered the storm better than their nominal counterparts.Surging price pressures have long been a scourge eroding the appeal of developing-market bonds and currencies. Now, data across the world is flashing warning signs again. U.S. inflation for March came in higher than estimates, while CPI also picked up in Peru, Brazil, South Korea and India due to a surge

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