Yields of USTs climbed steadily for the most part in the month. Hopes of stabilization in the Chinese economy, due to recent economic numbers printing better than expected, underpinned demand for riskier assets.
2016 began in complete panic, with risk assets including emerging markets selling off deeply through the first few weeks of the year. This was then followed by the strongest rally since 2012.
In early 2016, hedge fund Nevsky Capital decided to call it quits after 15 years of successful asset management. One of the reasons for the closure is that since the global financial crisis, emerging markets are breaking away from the transparent 'Washington Concensus' model.