Emerging-Market Stocks, Bonds, Currencies Gain on IMF Accords
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Emerging-market stocks, bonds and currencies rallied on speculation other developing nations will follow Mexico in taking advantage of the International Monetary Fund’s new loan program aimed at easing the global recession.
Polish, Czech and Brazilian stocks helped push the MSCI Emerging Markets Index up 5.6 percent to 613.07, the highest since Oct. 15. Indonesia and Venezuela paced gains in emerging- market bonds, with borrowing costs falling to the lowest since November. South Korea’s won climbed 3.4 percent, leading an advance in developing nations’ currencies.