The good news is emerging economies are seeing boom times, which means the bonds those countries issued are going bust. "I don't see a lot of value in emerging-market bonds right now," portfolio manger Carlos Asilis of Vega Plus Capital Partners told The Wall Street Journal. "They have probably seen their best levels for the year, and perhaps for longer than that." According to The WSJ, the high-flying bonds that investors have been accustomed to are becoming a thing of the past, thanks to rising interest rates and declining fears that these developing economies may experience Asian-like crises of the late 1990s. Of course, there are some who believe bonds are just going through an off cycle, as they did last year, when yields dropped at news of a higher-than-expected Federal Reserve interest hike, but then came back two months later.