Emerging-Market Stocks Rally as U.S. Outlook Fuels Risk Demand

  • Three-day advance has erased losses over previous three weeks
  • South Africa’s rand leads developing-nation currencies higher

Why Are Downgrades Accelerating in Emerging Markets?

Emerging-market stocks rose to their highest level since July 2015 and currencies strengthened as data showing slower-than-forecast growth in the U.S. services industry bolstered speculation that the Federal Reserve will move slowly in raising interest rates.

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