Among them is NN Investment Partners, which turned positive on emerging markets towards the end of 2015 but recently reversed gear. Those "reflation" bets have already taken some steam out of emerging markets since mid-October. If that assumption turns out to be wrong ... that does change the landscape quite dramatically," said Richard Titherington, emerging markets head at JPMorgan Asset Management. Haefele is steering clear, calling emerging market bonds "Ground Zero" in the event of additional unexpected US rate rises. Speaking in New York, BlackRock's fixed income CIO Rick Rieder said he wasn't ready to back off yet, calling emerging markets "a great opportunity" for 2017.

Source: The Edge Markets November 18, 2016 16:16 UTC