Prices for emerging market bonds and equities climbed on Tuesday after the Federal Reserve cut interest rates by 50 basis points, boosting the attraction of developing-market assets that can benefit from a weaker dollar backdrop. The iShares JP Morgan USD Emerging Market Bonds /zigman2/quotes/202964510/composite EMB +0.34% exchange-traded fund was up 1.2%, while the iShares MSCI Emerging Markets ETF /zigman2/quotes/201454250/composite EEM +1.73% was up 0.9%. The ICE U.S. Dollar Index /zigman2/quotes/210598269/delayed DXY -0.09% , which tracks the performance of the greenback against its major rivals, was down 0.4%. Lower interest rates in the U.S. tend to send investors looking for higher-yielding assets abroad in emerging markets. A weaker dollar also benefits emerging market corporations that borrow in the greenback, making it cheaper to pay down their debt obligations.