Emerging Equity Rally Wins Converts as Bearish Bets Slide: Chart

Months of skepticism on the sustainability of a rally in emerging-market stocks is waning, if short sellers are any guide. Bearish bets on the iShares MSCI Emerging Markets Index fell to a two-year low at the end of last week, an indication that investors have greater conviction this year’s 15 percent advance in the benchmark gauge has further to run. Equities are gaining as the economic-growth outlook for developing nations improves and analysts boost earnings estimates.

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