Skip to content
Subscriber Only

Emerging Markets Rally to One-Year Highs on Stimulus Prospects

  • Turkish assets gain on Moody’s delay of rating decision
  • Thai equities gain as military-backed constitution is approved
Video player cover image

Emerging Markets: Does the Rally Have Legs?

Updated on

Emerging-market stocks and currencies rose to their highest levels in more than a year as prospects for central bank stimulus and a better-than-expected U.S. jobs report fueled demand for higher-yielding assets.

Turkish bonds rallied and the lira strengthened after Moody’s Investor Service delayed a potential sovereign downgrade. South Korean stocks rallied after S&P Global Ratings raised the country’ credit ranking. Russia’s ruble rose for a fifth day as oil sold for more than $45 a barrel. The premium investors demand to own emerging-market bonds rather than U.S. Treasuries fell to lowest in a year.