EM Local bonds seems to be testing the top of the downward channel while Stochastics are in overbought territory making it difficult to think of a breakout to the upside. Expect a move lower that most likely will come from the ccy side.
EM local ccy ETF likely to resume downtrend started a couple of years ago. A possible combination of generalized USD strength and credit worries over the next few weeks/months.
