Emerging market bond yields influenced by global factors, not just advanced economies.
The article looks at how bond markets in developing countries are connected to global bond markets. By analyzing bond yields from 2003 to 2012, the researchers found that factors like stock market movements and currency changes in both advanced and developing countries affect bond yields in developing countries. This shows that emerging market bond yields are not just influenced by advanced economies but also by their own local factors. The level of integration between emerging markets and global markets changes over time and varies between countries.