Concerns About a Crowded Emerging Market Trade

As emerging markets are rebounding and sovereign bond yields throughout the developed world remain low and, in some cases, negative, investors have been flocking to exchange traded funds such as the iShares J.P. Morgan USD Emerging Markets Bond ETF (NYSEArca: EMB) and the PowerShares Emerging Markets Sovereign Debt Portfolio (NYSEArca: PCY). EMB has a 7.18…