A Treasury bond buying opportunity triggered by an emerging market storm?

As you likely know, there has been a lot of damage to emerging market stocks, bonds, and currencies on a relative basis compared to the developed world markets.  And you may remember that not too long ago emerging/developing market (EMs) finance ministers were beating the drums of "currency war."  The blame placed squarely on the august shoulders of Mr. Ben Bernanke and company.  The IMF was so concerned; they were openly endorsing the use of capital controls to help EMs to handle the pressure.  Well, maybe it's just a cease fire, but EM finance ministers are now intervening to keep their currencies from "depreciating."  How quickly things can change?

Given the nature of emerging (or developing) world markets, and lack of any depth in their capital markets, i.e. bond markets...

Currency Currents 12 June 2013