Emerging-Market Losses Deepen as Dollar Gains; ETF Outflows Rise
- Selloff will continue as U.S. rates advance: Credit Agricole
- Local-currency sovereign yields surge from Malaysia to Turkey
The Case for Staying Bullish on Emerging Markets
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Emerging markets extended losses, threatening the best annual rally since 2012, as the dollar’s strength cut demand for riskier assets in the wake of Donald Trump’s U.S. presidential election victory.
The Turkish lira, Russia’s ruble and the Colombian peso helped lead declines among developing-market currencies and a gauge of equities retreated for a fourth day amid speculation the U.S. is headed for an era of rising interest rates and protectionist trade policies. Bulgarian debt fell after voters chose former Air Force Chief Rumen Radev, a political novice who wants to limit immigration and reduce sanctions on Russia, as the new president.