EM Bonds Face Worst Month Since Iran War as US Yields Climb

Emerging-market bonds are heading for their worst month since the Iran war first roiled markets in March, as surging US Treasury yields and lingering uncertainty over the Strait of Hormuz extended a selloff on Monday. Developing-world assets have been under pressure as investors weigh higher borrowing costs and geopolitical risk, with the selloff showing no signs of abating.