(Bloomberg) -- Emerging-market bonds extended a rout, with currencies and stocks heading for four-month lows, as investors dumped higher-yielding assets amid speculation Donald Trump's spending plans may push up U.S. inflation and interest rates.
Ten-year sovereign notes in Russia and Turkey tumbled, sending yields toward the highest in June and February, respectively. Investors turned the most bearish in three months on developing-nation debt. Stock volatility surged as benchmark indexes in Indonesia, India and South Africa fell at least 1.8% each. Mexico's peso extended a record low. South African credit-default swaps were poised for the biggest three-day jump this year. Central banks in Indonesia and India were said to intervene to support their exchange rates.