One emerging-market worry gives way to another
Rising infections overshadow rising inflation
![](https://www.economist.com/cdn-cgi/image/width=1424,quality=80,format=auto/sites/default/files/images/2021/04/articles/main/20210424_fnp502.jpg)
DESPITE THEIR supposed dynamism, emerging markets often struggle to escape their past. A few months ago, investors worried that this year would turn out to be a repeat of 2013, when rising bond yields in America prompted a sharp sell-off in emerging markets, known as the taper tantrum. Now investors are worried that 2021 will be a grim repeat of last year, as another, more virulent wave of covid-19 infections spreads through Brazil, India and elsewhere.
This article appeared in the Finance & economics section of the print edition under the headline “The wave v the tantrum”
Finance & economics April 24th 2021
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