Emerging debt-Prices fall for 2nd day on Treasuries, subprime

(Reuters) - Overall emerging market returns fell 0.49 percent on the
benchmark JP Morgan's EMBI+ index , while the benchmark
Brazilian bond due 2040 plunged half a point to
be bid 131.125.




Investors fretted about the impact of a declining housing
market in the U.S. economy after two hedge funds managed by
Bear Stearns lost billions of dollars from bad bets on
securities backed by subprime mortgages.


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