Emerging Markets Extend Rally as Oil, China Add to Fed Momentum

Emerging-market assets rallied for a fifth day as crude oil extended gains above $50 a barrel and Chinese trade data eased concern that the nation’s economic slowdown is worsening.

Equity valuations rose to a one-year high as commodity producers led the benchmark index to its longest winning streak in two months. Brazil’s, the Russian ruble and the Mexican peso helped lift a gauge of currencies to a one-month high. Chinese stocks in Hong Kong capped the longest run of gains in nine years. Oman sold five- and 10-year bonds as the extra yield investors demand to hold emerging market debt rather than Treasuries fell to the lowest since April.