World's Riskiest Assets Suddenly Seem a Whole Lot More Appealing
- Fed chief says bank is ‘listening carefully’ to markets
- Major emerging-market currencies rally against the dollar
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Emerging markets look to be in a sweet spot.
Developing-nation assets roared back Friday after Federal Reserve Chairman Jerome Powell said policymakers are “listening carefully” to markets, denting the dollar and boosting the allure of riskier investments. Leading the charge among currencies was the Turkish lira, one of last year’s biggest losers. It posted its best one-day gain against the greenback since October and every major emerging-market currencies advanced. The global economic outlook also received a boost from a better-than-expected U.S. jobs report.