Emerging-market investors reeling from last month’s losses head into the first full week of April bracing for more pain driven by higher US Treasury yields and a stronger dollar. Stronger-than-expected US jobs data on Friday prompted traders to price in an earlier start to Federal Reserve interest-rate increases. That’s fuelling concern the higher returns offered for risk-free investments in the world’s largest economy may drive even more money away from emerging markets. Demand for developing-nation assets waned in March, with flows to equity funds falling to less than a third of the levels seen in February and bond funds seeing outflows, according to EPFR Global data. Morgan Stanley is st
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