The Barclay's U.S. Aggregate bond index was up three percent in the first quarter after a flat 2015. Robert Tipp, chief fixed income strategist at Prudential Fixed Income (PRU) , said U.S. bonds are set up for a strong second quarter as well. 'The pattern has been one step back and two steps forward and that's where we started in the first quarter,' said Tipp. 'The outlook for the market is good, there is a lot of opportunity out there.' The yield on the 10-year Treasury sank to 1.8 percent from 2.3 percent over the course of the first quarter. Tipp said he expects the 10 year Treasury yield to remain range bound between 1.5 percent and 2 percent over the course of 2016.
More from Emerging Markets
Shares of Cresud have been hammered by a big political shift in Argentina, which makes the farming name a value play not for the faint of heart.
Markets got hit hard in May when trade talks broke down and the president instituted new tariffs, but things are different now.
There's a lot going on right now and the markets (and media) have difficulty latching on to more than three or four stories at a time.
This may be a case where the short-term damage to markets may be for the best in the longer run.